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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.
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.
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.
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.
Britain's first nuclear power station for twenty years has moved a step closer to being built in Somerset.
The Chancellor George Osborne has announced fresh investment totalling more than £24 billion during a 5 day tour of China where he is hoping to secure further funding for Britain's nuclear industry.
The plant could provide 25,000 jobs.
The Deputy Leader of Somerset County Council, David Hall has welcomed today’s announcement from the Chancellor of the Exchequer, George Osborne, saying it is very positive news for the county and the country.
The Chancellor insisted new nuclear power stations are essential to make sure the lights stay on as he gave the green light to the initial government guarantee for the first such plant in Britain for 20 years.
The new government guarantee, provided by Infrastructure UK is set to be worth around £2 billion and will pave the way for a final investment decision by energy company EDF Energy.
The Green MEP for the South West has criticised the government announcement to guarantee £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.
Molly Scott Cato, Green MEP for the South West, whose constituency Hinkley would be built in and long term critic of Hinkley says it is astonishing the government is "begging for Chinese money".
Latest ITV News reports
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?
The construction of the first nuclear power plant in the UK for a generation moved a step closer today as fresh investment was announced.