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EDF to raise €4bn for Hinkley nuclear reactor

Shareholders in the French company EDF have agreed on a €4-billion (£3.4bn) plan to help pay for the Hinkley Point C nuclear power station, paving the way for final approval for the £18bn facility after years of delay.

At a meeting on 26 July, EDF investors agreed to sell new shares in the company in order to raise €4bn in funds, the Financial Times reports. Creating new shares means that the value of existing shares will be lowered. However, the French state, which owns 85 per cent of EDF, has committed to buying new shares worth €3bn.

The agreement means the EDF board now looks set to approve a final investment decision for Hinkley Point C at a board meeting on 28 July.

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