Balfour Beatty Venture Wins Preferred Bidder for Hinkley Point

LONDON--Balfour Beatty PLC (BBY.LN), the infrastructure group, Friday said its joint venture with engineering company NG Bailey has been appointed preferred bidder for Electricite de France SA's (EDF.FR) GBP460 million ($718 million) project at Hinkley Point C power station.

The 50-50 venture--Balfour Beatty Bailey--will provide infrastructure to power the station and its operations, it said in a statement.

The six-year project will start in 2016 with design work, followed by the construction phase in 2017.

The venture's full contract award is scheduled for 2016, subject to a final investment decision, it said.

Hinkley Point C, located in north Somerset, England, will be the first nuclear power station to be built in the U.K. for 20 years, Balfour Beatty said. The station's two nuclear reactors will provide low carbon electricity to meet 7% of U.K. demand, it added.

Balfour Beatty shares closed Thursday at 231 pence, valuing the company at GBP1.59 billion.

 
--Write to Simon Zekaria at [e-mail] 
 

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