France's EDF Backs Nuclear Plan But UK Delays

PARIS, (APP - UrduPoint / Pakistan Point News - 29th july,2016) - French energy giant EDF on Thursday approved a contested plan to build Britain's first nuclear power station in decades but the British government said it would wait before taking a final decision. Britain's business and Energy Minister Greg Clark said the government would review the nuclear project, shortly after EDF's board backed a project which critics fear could bankrupt the French utility. "The UK needs a reliable and secure energy supply and the government believes that nuclear energy is an important part of the mix," Clark said. "The government will now consider carefully all the component parts of this project and make its decision in the early autumn," he said.

Before the deal can go ahead it must be approved by Prime Minister Theresa May. EDF's directors had been deeply divided over the planned construction of two nuclear reactors at Hinkley Point in southwest England for #18 billion (21.4 billion Euros, $23.8 billion). "At its meeting on 28 July 2016, EDF's board of directors made the final investment decision," the company said in a statement. Ten members of the board voted in favour of the deal, while seven voted against, a source told AFP. Upping the tension, one board member resigned just before the crunch meeting, saying he disagreed with the plan, reducing the board of directors to 17.