France's EDF delays go-ahead again on UK-China nuclear power plant

France's EDF, which is due to build a nuclear power plant in the UK in conjunction with China, has delayed a final decision amid claims it is struggling to finance its 66.5 percent stake in the venture, the Daily Telegraph reported today, without saying where it got the information.

Last October, during President Xi Jinping's state visit to Britain, it was announced that China's CGN group would take a 33.5 percent stake in the 18 billion pounds project.

But EDF, which is 84.5 percent state-owned, is struggling to raise the cash to cover its part of the deal and is putting pressure on the French government to come up with the money, the Telegraph said.

Hinkley is projected to provide 7 percent of the UK's energy needs when it comes on line in 2025.

A final decision on the go-ahead was expected from EDF this week, but that has now been delayed until mid-February, the newspaper said.

EDF's finances are under pressure because of falling wholesale power prices and its acquisition of Areva's nuclear reactor manufacturing business, the Telegraph added.

EDF is also due to fund a second plant at Sizewell, with Chinese input, and be part of a Chinese-led power plant project at Bradwell, also in the UK.

To contact the reporter: chris@mail.chinadailyuk.com