State-backed China General Nuclear took a 30% stake in the £24bn Hinkley Point C nuclear power plant, helping France's government-owned energy group EDF fund the project.
Turning to the rehabilitation phase, during my visit I announced an initial amount of EUR 21 m in additional funds from the development budget, of which 5 to 10 m will come from the NGO co-financing budget line and the balance from redistribution of earlier EDF funds.
A year later, if all goes to plan, Britain will switch on Hinkley Point C – two reactors built at a cost of £16bn by France's state-owned EDF with funding from China.
This success is seen in the enthusiasm with which donor partners have worked together on what is now EDF II, enabling funds to reach the education sector at a critical period.
EDF's stock market value is about £18bn.
Cost to consumers Although EDF and China are funding construction, UK households will subsidise their work through the price they pay for electricity.
Jean-Bernard Jean-Bernard Lévyman, said: "WEDFre funding it on the EDF group balance sheet for our part, which is two-thirds.
The SIG programme has four proposed phases (only the pilot and rollout phases are funded under the EDF): a pilot phase, a rollout phase, an expansion phase and an integration phase3.
These include a stake in the first nuclear power plant to be built in the UK for a generation (run by EDF), £2bn for busses (with Alex Dennis Ltd), funding for a new London Paramount Entertainment Resort, £50 million for Aston Martin sports cars and a similar amount for the London Taxi Company.
The EDF is a multi-donor trust fund which enables donors to jointly support the Ministry of Primary and Secondary Education5 (MoPSE) in its activities, with UNICEF managing the funds and providing technical support.
