Chinese coal miner to invest in UK's Hinkley project

The shareholders of Chinese coal miner Wintime Energy have approved its proposed investment in Hinkley Point C - EDF and China General Nuclear's project to build two European Pressurised Water reactors (EPRs) in Somerset, England. Wintime Energy, known as Wing Tai Energy in Chinese, announced its plan to invest up to three billion yuan ($440 million) in HPC through a wholly owned subsidiary of New Energy, Huayuan New Energy, on 13 December.

In a statement on 31 December, Shanxi-based Wintime said the agreement between China Guangdong Nuclear Power, China Nuclear Power, Yongtai Energy and Huayuan New Energy had been approved at an extraordinary shareholders meeting three days earlier by representatives of China Nuclear Power, Zhongtai Holding, Yongtai Energy, Huayuan New Energy and Yi Sheng Company. The agreement was published at the Shanghai Stock Exchange on 13 December, it added.

In November, Wintime and China General Nuclear signed a framework agreement to form a partnership aimed at developing nuclear power and other clean energy projects worldwide. The two companies will initially develop two AP1000 units at Lufeng in China's Guangdong province.

EDF plans to invest £12 billion in Hinkley Point C and its Chinese partner CGN committed at the end of 2015 to invest £6 billion. Under a Strategic Investment Agreement announced in October that year, EDF's share in the project will be 66.5% and CGN's will be 33.5%.

EDF and CGN are also working together on EPR projects in China, with two units under construction at Taishan in Guangdong province via the Taishan Nuclear Power Joint Venture they established in 2008.

First concrete was poured for the nuclear island of unit 1 in October 2009, the dome was placed on the reactor building to mark its completion two years after. The placing of the dome on the reactor building of unit 2 followed in September 2012. EDF Energy CEO Vincent de Rivaz said in November last year that the two EPRs under construction at Taishan in China were about to start their commissioning phase with hot functional tests.

Researched and written
by World Nuclear News