26 October 2015
- John Wilkins, Richard Tomlinson, Jenine Hulsmann, Thierry Schoen, David Metzger, Kelly Gregory, Inaamul Laher
- London, Paris, Shanghai
Clifford Chance advises EDF on proposals for China's CGN to invest GBP 6bn in the Hinkley Point C nuclear power project
International law firm Clifford Chance is advising EDF on the development of the proposed Hinkley Point C nuclear power station in Somerset, including the recently announced GBP6bn investment by China General Nuclear Power Corporation (CGN) to acquire and finance 33.5% of the GBP 18bn project.
The signing of a Strategic Investment Agreement and agreement to Heads of Terms for CGN's investment on 21 October 2015 marks another step towards the final decision to invest and begin construction of the UK’s first nuclear power station in 20 years. The Hinkley Point C’s two UK EPR reactors will aim to provide around 7% of the UK's electricity requirements.
Last year saw Clifford Chance advise EDF on securing European Commission state aid approval for the Hinkley Point C power plant.
The cross-practice, multi-jurisdiction Clifford Chance team is being led by London partner John Wilkins, supported by Paris partner Richard Tomlinson. London corporate partner Jenine Hulsmann is advising on aspects of state aid; Paris corporate partner Thierry Schoen on the French aspects; London real estate partner David Metzger is advising on the construction aspects, supported by senior associate Inaamul Laher; and corporate partner Kelly Gregory is advising on the Chinese aspects.