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Chinese Investment in UK Nuclear New Build Power Stations

20 Aug 2012

UK officials have indicated a preference towards having Chinese partners in two consortia competing for RWE AG and E.ON AG’s Horizon nuclear power projects in the UK.

One consortium, led by Toshiba Westinghouse, includes State Nuclear Power Technology Corp of China, while a second consortium includes China Guangdong Nuclear Power Corp.

The Horizon plans were to build reactors at Wylfa in Anglesey and Oldbury in Gloucestershire. The consortiums are working on bids in a deal expected to be worth circa £500 million.

It is understood, that the UK Energy department does not wish for the Chinese to have any more than a 50% stake in any consortium bid. The Government says it does not have a preference on the composition of the consortia.

The Chancellor, George Osborne, has been encouraging Chinese investors to back British infrastructure, energy and utility projects. China’s sovereign wealth fund bought a 9 per cent stake in Thames Water in February this year.