Britain has given the go-ahead for the first new nuclear power plant for decades, a decision which does not sit well with environmental groups.
The government said it would proceed with the Hinkley Point C project in Somerset, financed by French and Chinese money, with the proviso that safeguards were included for foreign investment in future infrastructure projects, Euronews reported.
The announcement comes after the government halted the deal to run a review. Explaining the changes to parliament, the UK Business Minister Greg Clark said: “It’s important that the right balance between welcoming foreign investment and ensuring that it serves the national interest is made. That is exactly what these changes will achieve. The investment will secure 7% of the UK’s electricity needs for 60 years, helping replace existing nuclear capacity, which is due to be decommissioned in the decade ahead.”
Environmental lobby Greenpeace slammed the decision saying the plant would not produce competitively priced, low carbon power in the near future, and pushed the government to invest in renewable energy at an affordable price.
Green groups are arguing that the cost of subsidizing renewables has dropped dramatically and solar as well as on and offshore wind energy could be a solution.
Another criticism leveled at the deal was that the price of electricity was almost double the wholesale price.
“It is extraordinary that they have not reviewed the price per unit of power,” said Barry Gardiner, the opposition Labour Party’s energy spokesman.
The two new reactors are expected to be up and running by the middle of the next decade.
