Hinkley point C: Will the most expensive building project in the world grind to a halt? By Paul Brown: The edifice already heading for the status of the largest and most expensive construction project in the world, the Hinkley Point C nuclear power station in the UK, is dragging its builder, the French giant EDF, into ever-deeper debt: the company’s flagship reactor is facing still more delay. Although EDF is a vast company, owning 58 reactors in France alone, and is 85% owned by the French state, it owes around €60 billion ($67bn), a debt expected to increase by €3 billion ($3.35bn) a year. This has led some city analysts, notably S&P Global, to downgrade the company’s prospects to “negative” − which is essentially a recommendation to shareholders to sell.
True Publica 6th Jan 2020 read more »