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The world of renewables this week

It was entirely predictable that EDF would come back at some point and say that the Hinkley Point C nuclear reactor in the UK was going to cost more than it had initially bid, at £19.5 billion. It has said that another £3 billion will be needed this week, adding 15% to the total price. Every deal EDF has done in nuclear has suffered from cost overruns. This time the delays are down to “difficult ground conditions” and you might have thought that it would have tested the ground before it started working. The current mood in the UK is that this is a project that cannot be cancelled without huge legal actions and penalties, but that the UK is…

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