Electricite de France SA and China General Nuclear Power Corp. signed a strategic investment agreement to build three new nuclear power stations in the U.K. as old reactors retire and the nation plans to move away from coal to reduce greenhouse gas emissions.

Paris-based EDF will have a 66.5 percent stake in the first plant, Hinkley Point C, with CGN taking the remaining share. The Chinese company will provide 6 billion pounds ($9.3 billion) of the 18 billion-pound cost for the 3.2 gigawatt plant due online in 2025, Vincent de Rivaz, chief executive officer of EDF’s U.K. unit, told reporters in a call on Wednesday.

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The U.K. is debating closing all its 12 coal-fired power plants by 2023 at the same time as it’s facing a squeeze on supplies. EDF’s 1.2-gigawatt Sizewell B plant is the only one of the nation’s current 15 reactors scheduled to generate beyond 2023.

http://www.bloomberg.com/news/articles/2015-10-21/edf-strikes-deal-with-china-to-build-three-u-k-nuclear-plants