Construction work on Somerset's Hinkley Point is to begin "within weeks" after a multi-billion pound deal between French energy giant EDF and China's CGN was unveiled this afternoon.
The agreement, reached after months of talks, priced the power plant at £18 billion - which was £6 billion less than expected.
Hinkley, which is already years behind schedule, has been given a revised start date of 2025. Initially it was planned to open in 2017.
Chairman of EDF, Jean Bernard Levy, called the signing "a big step forward" for the group's partnership with the Chinese.
"We are planning for a final investment decision within weeks so that we can move forward with construction."
EDF have signed an agreement with a Chinese firm which paves the way for a new nuclear power station at Hinkley Point in Somerset.
The agreement, reached after months of talks, gives China's leading state-owned nuclear supplier a 33.5 per cent stake in the £18bn Hinkley Point project, in Somerset.
Somerset has been gearing up for Hinkley for years, but now the project has got the final go ahead, how will it affect the region?Read the full story ›
Plans for the UK's first nuclear power plant in a generation at Hinkley Point in Somerset are set to be given a boost today.
French energy giant EDF will confirm Chinese investment in the multi-billion-pound scheme.
An announcement will be made on the second full day of a visit to the UK by Chinese president Xi Jinping. He's due to attend a meeting with the Prime Minister at which the nuclear project will be discussed.
Anti-nuclear protestors have recently set up camp at the site.
Protesters camped on a roundabout outside the planned nuclear power plant, Hinkley Point C, say it's a "bad investment for China":
Protesters camped outside Hinkley Point C in Somerset, have erected a white elephant, which they say represents the views of the financial and nuclear sector.
In the early hours, of Monday 19th October, the protesters built a compound, with an elephant and Chinese banners. They say the stalled project is "a bad investment" and should now be abandoned. It comes a month after George Osborne announced China's investment in the plant.
Anti-nuclear protesters have set up camp on a roundabout at the gates of the Hinkley C nuclear building site.
They say that EDF's project "is an expensive road to nowhere", and only investment in renewable makes sense. They're urging others to join them, as they prepare to camp the night and cause disruption.
"Today we have occupied EDF's land at the entrance to the idle Hinkley C site. We want to send a message to the Chinese govt and George Osborne. We don't want EDF's white elephant, we want the renewables revolution!"
The construction of the new nuclear power plant, will be the first in the UK for a generation, and it's expected to supply 7% of the UK's electricity needs.
Last month, George Osborne announced fresh investment from China, which brings the assembly of the plant one step closer.
Senior military figures have expressed concern that Chinese investment in the new Hinkley Point power station could threaten national security.
The Times has reported that intelligence agencies warned ministers that plans to allow China to take a stake in the Somerset plant could pose a security risk.
But Energy Secretary Amber Rudd said the UK had the strongest level of nuclear regulation worldwide.
Speaking at a Westminster lunch, she said "The Chinese can come and engage with us, but is is our regulations, our high standards that they will have to live up to."
A final investment decision on Hinkley C could be announced during Chinese president Xi Jinping's state visit.
Campaigners trying to stop a nuclear generator being built in Hinkley in Somerset have written to David Cameron.
The Stop Hinkley Campaign has urged the Prime Minister to end co-operation with China, claiming recent explosions in the country have highlighted its poor health and safety record.
The construction of the first new nuclear power plant in the UK for a generation moved a step closer today as George Osborne announced fresh investment in the £24.5 billion project.
The Chancellor made the announcement while on a five-day tour of China, where he is hoping to secure further funding for Britain's nuclear industry.
Mr Osborne announced a new government guarantee worth £2 billion to underwrite the proposed nuclear electricity generation plant at Hinkley Point in Somerset, which is due to be built partly with Chinese money.
The power plant is expected to supply 7% of the UK's electricity needs, powering around six million homes, and create thousands of jobs.
The Treasury said the new plant would boost Britain's energy security and open the door to unprecedented collaboration in the UK and China on the construction of new nuclear power stations.