Chinese President Xi Jinping’s British visit offers chance for France’s EDF to finalise nuclear reactors deal

French utility EDF hopes to sign a commercial agreement with its Chinese partners to build two nuclear reactors in Hinkley Point, Britain in October, but a final investment decision on the project could take a few more weeks or months after that, an industrial source told Reuters.

The source, confirming a report in French financial daily Les Echos, said Chinese President Xi Jinping’s planned Oct. 20-23 visit to Britain would provide a “window of opportunity for EDF to finalise commercial agreements with its partners, Chinese utilities CGN and CNNC.

“Once that is done, the final investment decision is the logical consequence,” the source said.

The source said administrative “formalities” for this decision would take more time.

EDF chief executive Jean-Bernard Levy said in July he was optimistic about moving very quickly towards a final investment decision on Hinkley Point after the summer break.

The £16 billion pound (HK$152 billion) project to build two Areva-designed EPR reactors was announced in October, 2013, but financial problems at Areva and long delays at two EPR reactors under construction in France and Finland have delayed the British project.