Government officially signs contract for Hinkley Point nuclear power plant

The Government and French energy firm EDF have officially signed a contract for the £18bn Hinkley Point C nuclear power station.

The Secretary of State for Business, Energy and Industrial Strategy, Greg Clark, the Chairman and CEO of EDF, Jean-Bernard Levy and the Chairman of CGN, He Yu signed the agreement in a ceremony in London on Thursday.

Earlier this month, the Government decided to proceed with the UK’s first nuclear power station in over 20 years, which will provide power for almost six million homes.

Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, said: “Signing the Contract for Difference for Hinkley Point C is a crucial moment in the UK’s first new nuclear power station for a generation and follows new measures put in place by Government to strengthen security and ownership.

“Britain needs to upgrade its supplies of energy, and we have always been clear that nuclear power stations like Hinkley play an important part in ensuring our future low-carbon energy security.”

The event was also attended by Jean-Marc Ayrault, the French Minister of Foreign Affairs and International Development and Minister Nur Bekri, the Administrator of the National Energy Administration of China.

Hinkley will provide 7% of Britain’s electricity needs for sixty years. UK-based businesses will benefit from more than 60% of the £18bn value of the project and 26,000 jobs and apprenticeships will be created.