EDF considers selling €3bn stake in UK nuclear business to help fund reactors
Posted on: 20/01/2016

EDF is considering selling their £2.2bn stake in its British nuclear business in a bid to raise cash for new Hinkley Point reactors.

The firm are considering reducing their stake in the eight existing nuclear reactors it owns from 80% to 51% by bringing in a new investor as part of a wider disposal programme.

According to EDF, the Hinkley point project is estimated to cost around £18bn, although this could raise higher to £24bn. Chinese firms have already agreed to take a one-third stake in the project and are also keen to build their own new reactors at Bradwell, another site currently used by EDF in Essex.

As EDF have struggled to generate investors’ interest in the Hinkley scheme, more Chinese firms would seem first in line to buy into the rest of the EDF nuclear business if it became available.

Over the last six months the company’s chief executive, Jean-Bernard Lévy, has made clear he is reviewing various parts of the business in a bid to pay for a range of new commitments and rising debt levels.

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