After the "The Golden Age Between the Two Countries is Over" Remark... UK Expels Chinese Companies from Nuclear Power Projects

UK Government Invests 1 Trillion Won in Sizewell C Nuclear Plant
Existing Shares: France 80%, China 20% to
UK and France Each Holding 50%

The UK government has decided to exclude Chinese state-owned companies from the project to build new nuclear power plants. [Image source=Yonhap News]

[Asia Economy Reporter Oh Gyumin] The UK government has decided to exclude Chinese state-owned companies from the project to build new nuclear power plants. This announcement came just one day after Prime Minister Rishi Sunak stated that China threatens the UK's interests and values, declaring that "the golden era between the two countries is over."

On the 28th (local time), according to AFP and others, the UK government announced that it will invest ?700 million (approximately 1.1153 trillion KRW) to secure a 50% stake in the Sizewell C nuclear power plant project in Suffolk, eastern England. Previously, the Sizewell C project shares were held 80% by ?lectricit? de France (EDF) and 20% by China General Nuclear Power Group (CGN).

The UK government plans to hold half of the shares going forward and seek other investors to raise the necessary funds for the construction and operation of the nuclear power plant.

The UK Department for Business, Energy & Industrial Strategy (BEIS) explained in a statement, "The government's investment in Sizewell C, including purchase costs and taxes, enables CGN to exit the project."

The Sizewell C nuclear power plant aims to begin operations as early as 2035 and is expected to supply 7% of the UK's electricity demand.