EDF Seeks to Raise Up to £4 Billion to Help Fund Construction of UK’s Hinkley Nuclear Plant
- Company is talking to funds for a stake sale in Hinkley Point
- EDF would reimburse investors if the nuclear project fails
Cranes surround a reactor under construction at Hinkley Point C, in Bridgwater, on Sept. 27.
Photographer: Anna Barclay/Getty Images
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Electricite de France SA is holding talks with investors over funding for the Hinkley Point C nuclear power plant under construction in the UK, as the French utility grapples with the ballooning cost of the project.
EDF is seeking to raise as much as £4 billion ($5.2 billion) through a bespoke financial instrument which would give investors a stake in the Hinkley project, people familiar with the matter said asking not to be named because the discussions are private. Investors would be reimbursed if the construction isn’t completed, one of the people said.