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Released September 18, 2012 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) -- Significant progress on the U.K.'s first new nuclear plant project in decades has been made following a 'landmark' deal between EDF Energy and local councils.
The company, the U.K. arm of French energy giant, Electricite de France (EPA:EDF) (Paris), has inked a deal worth around 124 million ($162 million) with a number of Somerset councils to compensate for the likely disruption caused by the building of the Hinkley Point C nuclear power plant in Somerset, England.
The 'breakthrough settlement' overcomes a major obstacle to the project and makes it more likely that the U.K. government will grant full planning consent later this year. The deal was signed between EDF Energy and the West Somerset, Sedgemoor District and Somerset County Councils. According to EDF, 'it resolves all the Councils' principal issues relating to the application to build and operate Britain's first nuclear power station for more than 20 years'.
"This is a landmark agreement for the people of Somerset and for the project," explained Vincent de Rivaz, EDF Energy's Chief Executive. "It provides a strong springboard for success. During three years of consultation, we have worked very closely with the local authorities and other groups to identify and mitigate the impact of our proposals. It heralds a new phase in the Hinkley project and is another important stepping stone ahead of our final investment decision. We look forward to moving ahead in partnership and realising the many opportunities that this important development will deliver, locally and for the nation."
The 3,300-megawatt (MW) power plant will boast two proposed European Pressurised Reactors (EPRs), which will be capable of generating enough power for around 5 million homes when they are commissioned in 2018.
Sedgemoor Council Leader, Councillor Duncan McGinty, added: "Now the planning process is in its final stages, and we have reached agreement with EDF Energy on the best way forward should consent be granted, all our energies must go into making this a development of which the country and our communities can be proud. This will be a huge project that has the ability to shape and change the nature of the local economy".
Plans for the new Hinkley Point C project were given the all clear by the European Commission (E.C.) last month. The E.C. stated that under Article 41 of the European Atomic Energy Community (Euratom) Treaty, Hinkley Point C "fulfils the objectives of the Euratom Treaty and contributes to develop a sustainable national energy mix." For additional information see June 21, 2012, article - European Approval for EDF's Hinkley Point Nuclear Project.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
The company, the U.K. arm of French energy giant, Electricite de France (EPA:EDF) (Paris), has inked a deal worth around 124 million ($162 million) with a number of Somerset councils to compensate for the likely disruption caused by the building of the Hinkley Point C nuclear power plant in Somerset, England.
The 'breakthrough settlement' overcomes a major obstacle to the project and makes it more likely that the U.K. government will grant full planning consent later this year. The deal was signed between EDF Energy and the West Somerset, Sedgemoor District and Somerset County Councils. According to EDF, 'it resolves all the Councils' principal issues relating to the application to build and operate Britain's first nuclear power station for more than 20 years'.
"This is a landmark agreement for the people of Somerset and for the project," explained Vincent de Rivaz, EDF Energy's Chief Executive. "It provides a strong springboard for success. During three years of consultation, we have worked very closely with the local authorities and other groups to identify and mitigate the impact of our proposals. It heralds a new phase in the Hinkley project and is another important stepping stone ahead of our final investment decision. We look forward to moving ahead in partnership and realising the many opportunities that this important development will deliver, locally and for the nation."
The 3,300-megawatt (MW) power plant will boast two proposed European Pressurised Reactors (EPRs), which will be capable of generating enough power for around 5 million homes when they are commissioned in 2018.
Sedgemoor Council Leader, Councillor Duncan McGinty, added: "Now the planning process is in its final stages, and we have reached agreement with EDF Energy on the best way forward should consent be granted, all our energies must go into making this a development of which the country and our communities can be proud. This will be a huge project that has the ability to shape and change the nature of the local economy".
Plans for the new Hinkley Point C project were given the all clear by the European Commission (E.C.) last month. The E.C. stated that under Article 41 of the European Atomic Energy Community (Euratom) Treaty, Hinkley Point C "fulfils the objectives of the Euratom Treaty and contributes to develop a sustainable national energy mix." For additional information see June 21, 2012, article - European Approval for EDF's Hinkley Point Nuclear Project.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
