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UK cleared to heavily subsidize $39B nuclear plant

By Juergen Baetz
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UK cleared to heavily subsidize $39B nuclear plant

BRUSSELS (AP) — The European Union has approved Britain’s bid to heavily subsidize a new nuclear power plant, overriding opposition from environmentalists and questions over the project’s 24.5 billion pound ($39 billion) price tag.

The EU’s executive Commission said Wednesday it found the subsidies for construction and operation of the Hinkley Point plant won’t distort fair competition.

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