Cash-strapped EDF reportedly facing £2bn rise in Hinkley Point C costs
Source: City AM
Cash-strapped EDF could have to find an additional £2bn to build the Hinkley Point C nuclear power plant.
There's rising pressure at the French utility giant over whether its already strained balance sheet will be able to shoulder the hugely expensive project.
An independent report regarding the controversial project seen by the Times claims the updated cost could be as high as €25.3 billion (£19.8 billion).
This is because Areva, the company behind the nuclear reactors which will be used, is repricing its technology ahead of the final investment decision in early May.
Michel Degryck, managing partner of the Paris-based corporate finance advisory Capitalmind which conducted the analysis, said: "We understand that a number of costs were probably underestimated when they did their last pricing [of the reactor] in 2013."
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Read more: http://www.cityam.com/237893/cash-strapped-edf-reportedly-facing-2bn-rise-in-hinkley-point-c-costs
