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An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. The effort, an outgrowth of surveys NASA completed in California using methane-tracking planes, is meant to help polluting industries find and plug leaks. The report shows these large emission sources cut across a diverse range of infrastructure and oil and gas operators in the Permian Basin. The U.S. Environmental Protection Agency last year proposed the first federal regulation targeting methane emissions from existing oil and gas facilities. The United States also signed a voluntary global methane pledge with around 100 countries, agreeing to slash methane by 30% below 2020 levels in eight years.
Persons: Ernest Scheyder, Jan, Michael Bloomberg, Riley Duren, Valerie Volcovici, Aurora Ellis, Richard Pullin Organizations: REUTERS, Environmental Defense Fund, Carbon, Mapper, NASA, Carbon Mapper, University of Arizona, EDF, Reuters, Occidental Petroleum Corp, ConocoPhillips, Energy, Callon Petroleum Co, Coterra Energy, American Exploration, Production Council, Environmental, Agency, United, Thomson Locations: Midland , Texas, U.S, Texas, New Mexico, California, United States
ADDIS ABABA, Jan 22 (Reuters) - Ethiopia's military is planning to enter the Tigray regional capital of Mekelle and "eliminate" rebellious forces, a top military official said late on Friday amid diplomatic efforts to end conflict in the country's north. "Tigray is part of Ethiopia and no force will stop us from entering. The TPLF's spokesman, Getachew Reda, could not be reached for a comment on the military official's remarks. TPLF forces control most of Tigray but are surrounded by hostile forces from neighbouring regions of Afar and Amhara which are allied with the federal military. In recent months there have been multiple diplomatic and political efforts to end it, including pressure from the United States.
Persons: ADDIS ABABA, Jan, General Abebaw Tadesse, Getachew Reda, Legesse, Abiy Ahmed's, Billene Seyoum, Abiy, General Mohamed Hamdan Dagalo, Elias Biryabarema, James Macharia, Ros Russell Organizations: Ethiopian Defence Forces, EDF, shouldn't, Thomson Locations: ADDIS, Tigray, Mekelle, Africa, Addis Ababa, Fana, Ethiopia, Afar, Amhara, United States, Ethiopia's, Sudan, Nairobi
ADDIS ABABA, Jan 22 (Reuters) - Ethiopia's military is planning to enter the Tigray regional capital of Mekelle and "eliminate" rebellious forces, a top military official said late on Friday amid diplomatic efforts to end conflict in the country's north. The TPLF's spokesperson, Getachew Reda, could not be reached for a comment on the military official's remarks. "The claims by TPLF that our air force is targeting civilians is a lie," he said on Ethiopian Broadcast Corporation television. TPLF spokesperson Getachew could not be reached to comment on this. TPLF forces control most of Tigray but are surrounded by hostile forces from neighbouring regions of Afar and Amhara which are allied with the federal military.
Persons: ADDIS ABABA, Jan, Abebaw Tadesse, Getachew Reda, Getachew, Legesse, Abiy Ahmed's, Billene Seyoum, Yilma Merdasa, TPLF, Joe Biden, António Guterres, Abiy, James Macharia Chege, Elias Biryabarema, Ros Russell, Frances Kerry Organizations: Ethiopian Defence Forces, EDF, shouldn't, Ethiopian Broadcast Corporation, United Nations, Thomson Locations: ADDIS, Tigray, Mekelle, Africa, Addis Ababa, Fana, Ethiopia, U.S, Afar, Amhara, United States, Nairobi
Steam rises from cooling towers of the Electricite de France (EDF) nuclear power plant in Belleville-sur-Loire, France October 12, 2021. The advisers said that only gas plants with emissions of 100g CO2e per kWh or lower should be deemed climate-friendly. Today's gas plants do not meet that limit, and would need to use carbon-capture technology to comply. A first set of rules covering green investments in sectors including buildings and transport took effect this year. Spain, Denmark, Austria and Luxembourg on Thursday published a letter to the Commission urging it not to label gas and nuclear power as green.
Persons: Benoit Tessier, Jan, Kate Abnett, Simon Jessop, John Chalmers, Tomasz Janowski Organizations: EDF, REUTERS, European Union, Reuters, European Commission, Commission, Thomson Locations: France, Belleville, Loire, BRUSSELS, Brussels, EU, Spain, Denmark, Austria, Luxembourg
A flag with the company logo of Electricite de France (EDF) and a French flag fly next to the EDF power plant in Bouchain, near Valenciennes, France, September 29, 2021. REUTERS/Pascal Rossignol/File PhotoPARIS, Jan 19 (Reuters) - The French state will "never" let utility EDF (EDF.PA) fall by the wayside and will support the company as it faces difficulties due to French policy measures to cap power price hikes for consumers, said Finance Minister Bruno Le Maire. read more"If prices are low and less lucrative, the state will stand by EDF's side," Le Maire told RMC radio. The French state owns 84% of EDF's shares, which have lost almost 40% of their value since October. The hit came as EDF prepares to finance billion-dollar investments in new reactors that President Macron has said the country is planning to build.
Persons: Pascal, Jan, Bruno Le Maire, Le Maire's, Emmanuel Macron, Le Maire, Jean, Bernard Levy, Macron, Tassilo Hummel, Sudip Kar Organizations: EDF, REUTERS, RMC, Gupta, Thomson Locations: France, French, Bouchain, Valenciennes
PARIS, Jan 17 (Reuters) - The CEO of EDF (EDF.PA) on Monday broke with the convention that bosses of French state companies don't criticise the government to express "real shock" and indignation after the utility was told to sell more power to rivals at below-market prices. Register now for FREE unlimited access to Register"This is not what we had proposed to the government," Levy said in the internal memo. Instead, he said, the firm had recommended targeted help for small businesses and the most vulnerable industrial users. "Having fought hard against it, this decision comes as a real shock," he said of the government move. "Many of you have shared with me your support, and even your indignation, and I share your emotions.
Persons: Jan, Bernard Levy, Emmanuel Macron, Levy, Benjamin Mallet, Christian Lowe, Mark Potter Organizations: PARIS, EDF, Reuters, GV, Thomson Locations: Jean
Energy Crunch Hammers French Nuclear Giant EDF
  + stars: | 2022-01-14 | by ( Joe Wallace | Matthew Dalton | )   time to read: 1 min
A decision by the French government to force electricity giant Électricité de France SA to eat higher energy prices slammed the company’s shares, making the state-controlled utility a high-profile victim of Europe’s energy crisis. The move reflects the fraught decisions facing governments in Europe over how to spread the pain from a surge in natural-gas and electricity prices. Regulated utilities are seen as low-risk bets for investors but Friday’s 16% drop in EDF’s shares was among the biggest for the French firm since it listed in Paris in 2005, according to FactSet data.
Organizations: de France SA Locations: Europe, Paris
It won’t be the last European utility to get caught in the crossfire of the 2022 energy crisis. JPMorgan analysts reckon this would have pumped up EBITDA this year by 8 billion euros. EDF thinks the hit to 2022 EBITDA from this, plus a postponement of some tariff increases, could be 8 billion euros. - EDF said the requirement could cost it up to 8.4 billion euros. Jefferies analysts estimated the hit at between 5 billion euros and 10 billion euros.
Persons: Jean, Bernard Lévy’s, Emmanuel Macron, Bruno Le Maire, Peter Thal Larsen, Karen Kwok, Oliver Taslic Organizations: LONDON, Reuters, EDF, JPMorgan, Labour, Energy, Jefferies, French Finance Locations: , North, United Kingdom, Italy, France
PARIS, Jan 13 (Reuters) - French Finance Minister Bruno Le Maire said in an interview with French daily Le Parisien on Thursday that the increase of power prices this year will remain capped at four percent. He added that the European Commission has agreed with this proposal and said that without the new measures, power prices would jump by more than 35% on Feb. 1. "We thank EDF for making this effort in the interest of the public, but we will help EDF," Environment Minister Barbara Pompili said on LCI television. The new measure is bad news for EDF, which has long asked the government to scrap its obligation to sell part of its nuclear output to competitors at below-market prices. Asked about the possible negative impact of the price control measures on EDF, Le Maire told Le Parisien that the government had committed to let EDF build new nuclear reactors, which will give the utility good development prospects.
Persons: Jan, Bruno Le Maire, Le Maire, Barbara Pompili, Le Parisien, Benjamin Mallet, Geert De Clercq, Sandra Maler Organizations: PARIS, French Finance, EDF, European Commission, Thomson Locations: Le, France
The logo of French cloud computing company OVHcloud is seen on a data-center building in Strasbourg, France, October 13, 2021. As the emphasis on data security and privacy rises, analysts see OVHcloud's positioning as increasingly pertinent to tap into demand for data sovereignty cloud solutions. "There is a new momentum for new regulations," chief executive Michel Paulin said in a call. "OVHcloud is uniquely well-positioned to propose alternative solutions against most of the hyperscalers." OVHcloud shares were up 4.7% at midday after rising as much as 7.4% in early trading.
Persons: Christian Hartmann, HarfangLab, Michel Paulin, Morgan, J.P, Juliette Portala, Milla Nissi, Bernadette Baum Organizations: REUTERS, EDF Renewables, U.S, Amazon Web Services, Google, Thomson Locations: Strasbourg, France, Asia, Paris
A general view of the Hunterston 'B' nuclear power station near Largs in west Scotland, Sept. 24, 2008. REUTERS/David MoirLONDON, Jan 7 (Reuters) - EDF’s (EDF.PA) Hunterston B nuclear power plant in Scotland will close on Friday after some 46 years of operation, the company said. Britain's nuclear power plants can supply around 20% of the country's electricity demand, but around half are set to close in the next four years as they reach the end of their currently scheduled lifespan. read moreFrance's EDF is building Britain’s first new nuclear plant in more than two decades, Hinkley Point C, with backing from China's CGN. The facility is expected to cost 22 billion pounds-23 billion pounds ($30 billion-$31 billion) and start operation in 2026.
Persons: David Moir LONDON, China's, Susanna Twidale, Jan Harvey Organizations: REUTERS, EDF, Thomson Locations: Largs, Scotland, Britain
French aluminium smelter to cut output by 15% on energy costs
  + stars: | 2022-01-07 | by ( )   time to read: +2 min
PARIS, Jan 7 (Reuters) - A major aluminium smelter in northern France is to reduce production by 15% in response to soaring electricity prices, a spokesperson for the site's owner American Industrial Partners (AIP) said on Friday. The smelter at Dunkirk, which has annual capacity of about 285,000 tonnes, has already cut output by 10% and will reduce it by a further 5% next week, the spokesperson said. A CGT union official at the site, Laurent Geeraert, told local radio station Delta FM that cuts would be amplified to around 25% of capacity if electricity prices didn't ease. The Dunkirk smelter is among large energy users discussing relief measures with the French government and state-owned EDF (EDF.PA), which operates the country's nuclear power network. read morePrivate equity firm AIP acquired the Dunkirk smelter last year following a debt default by a unit of previous owner GFG Alliance.
Persons: Jan, Laurent Geeraert, GFG, Sanjeev Gupta, Gus Trompiz, Jan Harvey Organizations: PARIS, American Industrial Partners, CGT, Delta, EDF, Dunkirk, AIP, GFG Alliance, Thomson Locations: France, Dunkirk, Europe
French and Benelux stocks-Factors to watch Dec 30
  + stars: | 2021-12-30 | by ( )   time to read: +1 min
Dec 30 (Reuters) - Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks. EDF (EDF.PA), ENGIE (ENGIE.PA):RTE, in charge of managing the French electricity transmission network, is due to publish an update to its security of supply analysis for January this morning. Register now for FREE unlimited access to RegisterPan-European market data:European Equities speed guide...................FTSE Eurotop 300 index..............................(.FTEU3)DJ STOXX index......................................(.STOXX)Top 10 STOXX sectors...........................(.PGL.STOXXS)Top 10 EUROSTOXX sectors......................(.PGL.STOXXES)Top 10 Eurotop 300 sectors.....................(.PGL.FTEU3S)Top 25 European pct gainers.......................(.PG.PEUR)Top 25 European pct losers........................(.PL.PEUR)Main stock markets:Dow Jones...............(.DJI) Wall Street report .....Nikkei 225.............(.N225) Tokyo report............FTSE 100...............(.FTSE) London report...........Xetra DAX.............(.GDAXI) Frankfurt items..........FCAC-40.................(.FCHI) Paris items.............PAWorld Indices.....................................Reuters survey of world bourse outlook.........European Asset Allocation........................Reuters News at a glance:Top News.............Equities..............Main oil report...........Main currency report.....Register now for FREE unlimited access to RegisterOur Standards: The Thomson Reuters Trust Principles.
Persons: Dow Jones, Xetra DAX Organizations: EDF, RTE, pct, Dow, Nikkei, FTSE, CAC, Reuters, Thomson Locations: Benelux, Tokyo, London, Frankfurt, Paris
A night view shows France's oldest Electricite de France (EDF) nuclear power plant and the Grand Canal d'Alsace near the eastern French village of Fessenheim, France February 20, 2020. REUTERS/Arnd WiegmannPARIS, Dec 30 (Reuters) - Mild weather forecast for the first half of January should prevent France's electricity grid coming under strain but the outlook thereafter is uncertain due to a decline in its nuclear power capacity, French power grid operator RTE said on Thursday. But the grid operator said the outlook for French power supplies in the second half of January and February was uncertain, once the unseasonably mild weather comes to an end. But due to the fall in nuclear capacity, France's coal plants are likely to operate full-time throughout January, RTE said. To respond to supply shocks, France has about 1 GW to 1.5 GW curtailment capacity - mainly from temporarily switching off power-intensive industries, the grid operator said.
Persons: Geert De Clercq, Dominique Vidalon, David Clarke Organizations: EDF, REUTERS, RTE, Thomson Locations: France, Fessenheim, PARIS, Civeaux, Europe
LONDON, Dec 16 (Reuters) - Nyrstar's Auby zinc operations will be placed on care and maintenance from the first week of January 2022 in response to significantly higher current and projected future power prices in France, the company said on Thursday. This, Nyrstar said, was because of "low availability of nuclear power, high carbon-related costs passed on by power companies and reduced fixed-price allowances for industry". Employee duties will be redirected to focus on maintenance, training and investment projects while the electrolyser is not producing zinc." Nyrstar did not say how much zinc production would be lost or provide the production capacity of its three European smelters. Nyrstar in October cut production by up to 50% at its three European zinc smelters -- Budel, Balen in Belgium and Auby due to the soaring price of electricity.
Persons: Nyrstar, Pratima Desai, Kirsten Donovan Organizations: EDF, Global, Thomson Locations: France, Europe, Belgian, Budel, Netherlands, Balen, Belgium
PARIS, Dec 16 (Reuters) - Shares in EDF (EDF.PA) fell more than 7% at the open on Thursday after the French power giant found faults at a nuclear power station and shut down another plant using the same kind of reactors, leading it to cut its core profit goal for this year. France's biggest electricity supplier said late on Wednesday some faults were detected close to the welds on the pipes of the safety injection-system circuit in the two reactors of the Civaux power plant in western France. Register now for FREE unlimited access to RegisterAs a result of the discovery, an outage at the Civaux plant will last longer than expected, the company said. EDF said it would stop its plant in Chooz in eastern France because it uses the same kind of reactors. Register now for FREE unlimited access to RegisterReporting by Dominique Vidalon, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.
Persons: Dominique Vidalon, Silvia Aloisi Organizations: EDF, Jefferies, Thomson Locations: France, Chooz
Steam rises from a cooling tower of the Electricite de France (EDF) nuclear power station in Civaux, France, October 8, 2021. REUTERS/Stephane Mahe/File PhotoPARIS, Dec 16 (Reuters) - Shares in EDF (EDF.PA) plunged on Thursday after the French power giant found faults at a nuclear power station and shut down another plant using the same kind of reactors, leading it to cut its core profit goal for this year. France's Nuclear Safety Authority (ASN) said EDF had informed it that the company had detected cracks due to corrosion on the pipes of a reactor at the Civaux power plant in western France. Register now for FREE unlimited access to RegisterSeparately, the French Institute of Radiological Protection and Nuclear Safety, another public agency, said checks on other EDF reactors were likely to be necessary. The setback comes as France plans a major nuclear power station building programme, diverging from neighbour Germany which retreated from nuclear power after Japan's Fukushima nuclear disaster in 2011.
Persons: Stephane Mahe, JPMorgan Cazenove, Silvia Aloisi, Mark Potter Organizations: EDF, REUTERS, Nuclear Safety Authority, French Institute of Radiological Protection, Nuclear Safety, France's, JPMorgan, Jefferies, Thomson Locations: France, Civaux, Germany, French
A Green activist, wearing a mask depicting French President Emmanuel Macron, attends a protest to denounce French push to include nuclear energy and fossil gas in the EU Green taxonomy, in front of the Quai d'Orsay in Paris, France, December 14, 2021. REUTERS/Benoit TessierPARIS, Dec 14 (Reuters) - Demonstrators unfurled a banner declaring "Gas & nuclear are not green" outside France's foreign ministry on Tuesday in protest at a government drive to label nuclear energy and fossil gas as sectors for climate-friendly investment. The French government hopes that having the sustainable energy label could boost France's struggling nuclear energy industry, which was bailed out by the state in 2017 following construction delays and cost overruns. "By taking the lead of the toxic alliance between fossil gas and nuclear (energy) at a European level, Emmanuel Macron clearly sides with the polluters' camp. Nuclear is not a green energy: it produces radioactive waste that piles up across the country", said Nicolas Nace, a member of environmentalist group Greenpeace.
Persons: Emmanuel Macron, Benoit Tessier PARIS, Nicolas Nace, Bruno Le Maire, Lea Guedj, Benoit Van Overstraeten, Geert De Clercq, Timothy Organizations: Quai d'Orsay, REUTERS, Gas, Greenpeace . Finance, EU, EDF, Timothy Heritage, Thomson Locations: EU, Quai, Paris, France, Germany
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 8, 2021. The pan-European STOXX 600 (.STOXX) rose 0.2% after a mid-week wobble in the previous session on concerns about fresh restrictions in Britain. Register now for FREE unlimited access to RegisterBioNTech and Pfizer (PFE.N) said on Wednesday a three-shot course of their vaccine could neutralise the variant. Still, the STOXX 600 is set to log its biggest weekly gain since March, if gains hold. read moreTelecoms stocks (.SXKP) led by BT Group (BT.L), were the biggest winners on the index, while oil stocks (.SXEP) fell 1%.
Persons: Michael Bell, Anisha, Subhranshu Sahu, Amy Caren Daniel Organizations: REUTERS, Deutsche, CPI, Deutsche Bank, Asset Management, Pfizer, Investors, European Central Bank, Wall Street Journal, U.S . Justice Department, MIB, Veolia, BT Group, EDF, Thomson Locations: Frankfurt, Germany, Britain, U.S, Suez, Bengaluru
Britain's Ofgem appoints EDF to take on Zog Energy customers
  + stars: | 2021-12-03 | by ( )   time to read: +1 min
REUTERS/Benoit TessierLONDON, Dec 3 (Reuters) - British energy regulator Ofgem has appointed EDF (EDF.PA) to take on the customers of Zog Energy which ceased trading earlier this week, it said in a statement on Friday. Zog energy supplied around 11,700 domestic electricity customers. Ofgem said any funds that current and former domestic customers of the suppliers had paid into their accounts would be protected, where they are in credit. Domestic customers will also be protected by the energy price cap with their new supplier. Britain's domestic price cap increased 12%-13% from Oct. 1 but wholesale prices have risen far more since that cap was set in August.
Persons: Benoit Tessier LONDON, Ofgem, Zog, Marwa Rashad, Edmund Blair Organizations: EDF, Nuclear, REUTERS, Zog Energy, Thomson Locations: Villepinte, Paris, France, British
Cox: French finance will take an electoral pause
  + stars: | 2021-11-30 | by ( Rob Cox | )   time to read: +8 min
French President Emmanuel Macron is seen at a polling station during the first round of French regional and departmental elections, in Le Touquet-Paris-Plage, France, June 20, 2021. But Couche-Tard’s due diligence consisted more of walking the aisles of Carrefour and Monoprix supermarkets than briefing Finance Minister Bruno Le Maire. And it explains why Parisian finance will start 2022 relatively placidly but likely end the year with a bang. As of late November, French companies had been involved in some 2,900 transactions with a combined value of more than $252 billion, according to Refinitiv data. Follow @rob1cox on TwitterCONTEXT NEWS- France will extend by one year stricter measures on foreign ownership of companies it deems strategically important to the country, the French finance ministry said on Nov. 29.
Persons: Emmanuel Macron, Christian Hartmann, Alimentation, Emmanuel Macron’s, Bruno Le Maire, Jacques Chirac, , That’s, It’s, there’s, Macron, Éric, eurosceptic, Macron’s, Michel Barnier, Valérie Pécresse, Bpifrance, Safran, Isabelle de Silva’s, Société Générale, Swaha Pattanaik, Katrina Hamlin, Oliver Taslic Organizations: REUTERS, Pool ZURICH, Reuters, Carrefour, Rothschild, CAC, Fiat Chrysler Automobiles, European Union, Paris, National Assembly, EDF, Advent International, BNP, Sanofi, Schneider Locations: Le Touquet, Paris, Plage, France, Pool, Quebec, Carrefour, Élysée, Great Britain, , Aéroports de
FRANKFURT (Reuters) - Volkswagen is expanding its green strategy by investing in an EU-backed fund to jointly back technology firms in the field of energy transformation. FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg, Germany September 9, 2019. EIT InnoEnergy has already invested 560 million euros ($650 million) and holds stakes in about 300 groups, including Swedish battery cell maker Northvolt, steel venture H2 Green Steel, and lithium miner Vulcan Energy Resources. Supported by the EU’s European Institute of Innovation and Technology (EIT), EIT InnoEnergy funds start-ups and companies that are active in the energy transition towards decarbonisation and away from fossil fuels. Volkswagen did not disclose the value of the investment or the size of the stake in EIT InnoEnergy, whose owners also include Schneider Electric, TotalEnergies, Engie and EDF.
Persons: Fabian Bimmer, EIT InnoEnergy, , Jens Wiese, Volkswagen’s, Daniel Ek, Northvolt, Vargas Holding Organizations: Volkswagen, VW, REUTERS, Vulcan Energy Resources, EU’s European Institute of Innovation and Technology, Schneider, EDF, Scania, Mercedes, Benz, Spotify Locations: FRANKFURT, EU, Wolfsburg, Germany, Europe, Swedish, EIT, Engie
He added that the project could eclipse agricultural use of the region, which has already lost acreage because of other types of development. One of the projects is backed by Swift Current, which is proposing a 1,200-acre solar farm there. The other project in Clark County is being developed by Geenex Solar and EDF Renewables. To address residents’ concerns, some developers are adding screens to avoid obstructing views and are contributing to community causes to be good neighbors. Another solution for developers is agrivoltaics, a technology that allows land to be used for both farming and solar power.
Persons: , Will Mayer, Birchby, Kara W, Price, Robert Jeffries, John DeVillars Organizations: Clark Coalition, Swift, Geenex, EDF Renewables, Winchester Locations: Clark County, Geenex, Clark, Ky, Europe, United States, Boston, Grafton , Mass, Maine
HONG KONG/SYDNEY (Reuters) - Australian investment conglomerate Macquarie Group has priced its shares at A$194 each to raise A$1.5 billion, two people with direct knowledge of the deal told Reuters. REUTERS/David Gray/File PhotoThe Sydney-based firm launched the deal on Friday to sell up to 7.9 million shares to raise A$1.5 billion as it revealed it had more than doubled its first-half profit here to A$2.04 billion. Raising A$1.5 billion will take Macquarie’s stack of surplus capital to almost A$10 billion, while the funds it manages have a separate $A27.9 billion in equity “dry powder” to deploy, chief executive Shemara Wikramanayake said on Friday. Macquarie said it will also carry out a retail investor share purchase plan to raise an unspecified amount of funds. Sources close to the matter said on Friday the sales price was at the upper end or above the 1 billion-1.2 billion euros mentioned by sources in June.
Persons: David Gray, Macquarie, Shemara Wikramanayake Organizations: Macquarie Group, Reuters, Macquarie Group Ltd, REUTERS, Australian Securities Exchange, Citigroup, EDF Invest Locations: HONG KONG, SYDNEY, Sydney, Australia, DIF, Macquarie
LONDON (Reuters) - Britain has pledged up to 1.7 billion pounds ($2.34 billion) to help a new large-scale nuclear project get off the ground in the next few years, budget documents showed on Wednesday. FILE PHOTO: Workers at the nuclear reactor area under construction, are seen at Hinkley Point C nuclear power station site, near Bridgwater, Britain, September 12, 2019. France’s EDF is building Britain’s first new nuclear plant in more than two decades, Hinkley Point C, with backing from China’s CGN, which is expected to cost 22 billion-23 billion pounds. Britain has plans to build a second new plant, Sizewell C, in which CGN also has a 20% stake in the development phase. The government document said Britain is in active negotiations with EDF over the Sizewell C project.
Persons: Peter Nicholls, China’s, CGN Organizations: REUTERS, EDF Locations: Britain, Bridgwater
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