The UK government will not be offering up public money for the Bradwell B nuclear plant, according to the Chinese company building it.
Rumours about funding for the Essex project had surfaced after the government announced that it was in talks with Hitachi about taking a £5bn stake in its Wyfla nuclear plant in Wales.
However bosses at China’s General Nuclear Power Corporation (CGN) have announced that the company will not be seeking financial help from the government.
“It is not our plan to seek direct investment from the UK government for Bradwell B,” CGN UK chief operating officer Robert Davies said.
While Davies would not go in to detail about funding the project, the fact that CGN is not seeking government aid suggests that the Chinese firm already has backers for the project.
A dome lift at a Chinese nuclear plant last month paved the way for the construction of the nuclear reactor at Bradwell B.
The installation of the 260 ton dome at Unit 3 of the Fangchenggang plant in Guangxi Province was a major milestone for the Bradwell project, which is looking to use the same HPR1000 nuclear technology.
Davies said the company is optimistic that the reactor will receive approval from Britain’s regulator.
“We expect to complete the second phase of the GDA (generic design approval) by the end of the year and final approval by the end of 2021. The target is for the final investment decision to be made shortly after that,” Davies said.
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