Chinese investment in Hinkley Point nuclear plant set to be confirmed

Hinkley Point nuclear power station in Somerset Credit: PA

Chinese investment in the first UK nuclear power plant for a generation is set to be confirmed today.

French energy giant EDF will give an update on its new site at Hinkley Point in Somerset as it prepares to make a final investment decision.

The announcement will be come as Chinese president Xi Jinping continues his UK state visit.

He is due to attend a UK-China business meeting with Prime Minister David Cameron at which the nuclear project will be discussed.

Hinkley Point nuclear power station in Somerset. Credit: Tim Ireland / PA Wire/Press Association Images

There has been speculation that China will own a third of the new power station, which was priced at £16 billion in 2012, but is set to cost more than £24 billion when inflation and financing costs are taken into account.

The completion date has slipped from its original 2023, with EDF yet to give a new date for when the reactor will start generating power.

The area overlooking the Hinkley Point A nuclear power station in Somerset Credit: PA

Construction of Hinkley Point C will create 25,000 employment opportunities and will support 900 direct jobs during its 60-year lifetime.

The project also aims to create 1,000 apprenticeships alongside £14 million of investment in education and training.

Greenpeace said a multi-billion-pound subsidy deal to build a new fleet of three nuclear reactors at Hinkley, Sizewell, and Bradwell will add an estimated £33 a year to the average UK household bill for more than 30 years.

File photo of David Cameron on a visit to Hinkley Point in 2013 Credit: PA

EDF was not making any comment ahead of any announcement from the Government about the prospect of Chinese investment.