A top exec at energy giant EDF has quit over concerns about an £18 billion British nuclear deal

Paris (AFP) - The chief financial officer of French energy giant EDF, Thomas Piquemal, has resigned over a disagreement about the feasibility of an ambitious project to build Britain's first new nuclear power plant in decades, a source close to the matter told AFP on Sunday, confirming a Bloomberg report.

"The chief financial officer presented his resignation last week to Jean-Bernard Levy (CEO) because of a disagreement over Hinkley Point," the source said.

EDF - Electricite de France (EDF) - is 84.5% owned by the French state. It is a major player in the British market through a subsidiary.

Last October, EDF signed a historic deal with China General Nuclear Power Corporation (CGN) to build the plant, located at Hinkley Point in Somerset, southwest England. But plans for the reactor stretch back to 2008.

Construction costs are calculated at £18 billion ($25.8 billion, 23.6 million euros). Opponents have criticised the scheme on strategic, environmental and technical grounds.

Bloomberg reports that Piquemal resigned because he felt the final investment decision, which could come as soon as April, could jeopardise EDF's financial position. Falling electricity prices in Europe means money is tight and Piquemal reportedly felt EDF couldn't commit the necessary cash for such a large project at the moment.

EDF said last September that construction of the plant, which was due to start generating energy by 2023, has been delayed, the latest is a string of setbacks to the project's timeline. Early last year it also put off a decision about whether to invest in the project.

The British government says the plant is essential for meeting Britain's energy security, as most of the country's existing nuclear plants are due to close by 2023. It said last month that "good progress" was being made on the project.