Does the UK’s Hinkley Point Nuclear Project Have a Place in a Future With Cheap Renewables?

By [email protected] U.K. Prime Minister Theresa May recently gave the green light to Hinkley Point C, a long-debated nuclear power project backed by French and Chinese capital. Many skeptics believe it is a financial boondoggle in the making.

The project’s lead, French utility EDF, has €37 billion of debt and declining revenues at home. Voices both within and outside EDF have warned that Hinkley C will bankrupt the company. The British have promised to subsidize the £18 billion project through a 35-year contract that will pay EDF twice the wholesale electricity price for the power the plant produces, while passing the bill

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