Emmanuel Macron, French economy minister, says that there will be a final investment decision in early May by EDF on Hinkley Point nuclear reactor.
It was widely expected that 30th March would see the 18bn euro nuclear plant decision being made.
The French state owns 85% of EDF which is yet to outline the manner of the funding.
Mr. Macron while speaking to the French parliament Economic Affairs Committee said that it was unlikely that EDF would end up not actualizing the project.
Mr. Macron said that “The principal nuclear project in the developed world is Hinkley Point.”
He questioned the possibility of them deciding not to participate in the largest nuclear project in the developed world.
There are numerous risks that EDF has to contend with if it decides to proceed with Hinkley Point.
It has to raise funds that will see the project move on successfully and also look for 55bn euro that would be used to service the 58-strong nuclear power station fleet that is ageing.
As much as Hinkley is the biggest project that the French will partake, it is not the only one that will dig deep into its purse.
The Somerset project will soak up 15-20% of all the French company’s cash over the next decade.
EDF said earlier this month that despite the funding uncertainties, it was confident that the project would proceed.
Then in a letter that the CEO of the company, Levy Jean-Bernard sent to staff, he said that the project will have to secure funding from the govt.
He said that he was undertaking negotiations with the French state but the financial context was a challenge.
The UK govt maintains that it is committed to see Hinkley becomes a successful project.