An agreement was first reached between EDF and the China General Nuclear Power Corporation (CGN) during a visit to the UK from Chinese President Xi Jinping last year. The £18bn project will create the country’s first new nuclear power station in over two decades; CGN is understood to being paying £6bn towards the total cost of the deal.

Advising

A team from Ashurst led by co-head of corporate Robert Ogilvy Watson and utilities partner David Wadham is advising CGN. The team is also made up of finance partner Nikhil Markanday, regulatory partner Neil Cuninghame, IP partner Christopher Bates and tax partner Nicholas Gardner.

Clifford Chance is acting as the legal advisers to EDF SA with a team led by energy and infrastructure partner John Wilkins.

Herbert Smith Freehills energy partner Julia Pyke has also led a team advising EDF Energy Limited and Nuclear New Build, which is the Hinkley Point project company.

Active by 2025

The deal has taken three years to complete and Hinkley Point is expected to begin generating energy in 2025.

Source: The Lawyer