The British Finance Ministry has announced that the UK government is to give the go ahead to Chinese companies taking a stake - including potential future majority stakes - in the development of the next generation of British nuclear power. While any initial Chinese stake in a nuclear power project is likely to be a minority stake, over time stakes in subsequent new power stations could be majority stakes.
This announcement follows the signing this week in Beijing of a new Memorandum of Understanding on civil nuclear collaboration witnessed between UK and China. The memorandum sets the strategic framework for collaboration on investment, technology, construction and expertise. As well as supporting Chinese investment in Britain, the memorandum will make sure that British companies such as Rolls Royce, International Nuclear Services (INS) and engineering companies like Mott MacDonald can be part of China’s multi billion pound new nuclear programme.
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