Under US pressure, British-backed British nuclear projects are now moving away from China. Meanwhile, the cost of self-reliance is increasing. Only 4 years ago, good relations between China and the United Kingdom began.
At the heart of this relationship were the UK’s various nuclear projects. Which is funded by China, especially through the Chinese government agency CGN. Who have recently invested 4 billion in the UK in the nuclear sector.
But at present the United States is dissatisfied with the new, Chinese policy on Hong Kong. The UK has distanced itself from China over this issue. In the face of that pressure, relations between China and the United Kingdom are deteriorating.
The United Kingdom has said it will not buy any more products from Huawei from the end of this year. Eighteen other companies besides Huawei are members of CGN. The decision alerted China and the United Kingdom. The United Kingdom may have to suffer the consequences of such no-cooperation.
Liu Xiaoming, China’s ambassador to the United Kingdom, said in a statement that Britain would be forced to suspend all activities on its nuclear program.
A number of UK nuclear projects are underway with Chinese funding. One of which is Hinkley Point and Sizewell. China also wants the Bradwell nuclear project to be a separate project. It is likely to be the largest Chinese nuclear project in China.
CGN has directly invested hard cash in the Sizewell and Hinkley projects. They own 66% of 2 projects. If the CGN withdraws from these projects, financial assistance from the French organization EDF may come to this place. But the cost of projects could increase dramatically due to the shift in funding.
Jonathan Marshall of the UK’s Energy and Climate Intelligence Unit said there were many projects but in the current situation only the Hinkley project would go ahead. Bradwell has been shut down for political reasons. And it’s a Chinese project.
One way to solve this problem is to increase government investment in the nuclear sector. The future of the UK’s nuclear policy will be determined by the national nuclear policy later this year.
“We can’t say right now what the new nuclear policy will be,” said Rob Gross, director of the UK’s Energy Research Center. Because politics will play an important role in this.
However, it should be kept in mind that the companies that will create the project are no longer the policy makers.