Government Pledges £100m for Sizewell Project

We’re delighted to hear that the Government is investing £100m to support the planned Sizewell C nuclear plant in Suffolk. The announcement came from Business and Energy Secretary Kwasi Kwarteng and is the latest stage in efforts to bring the planned £20bn development to fruition since talks began in December 2020. The Government also plans to take a 20% equity stake in the £20bn large-scale nuclear plant.

EDF Energy will also take a 20% stake in the power station and it is hoped that the confirmation of two cornerstone investors will encourage infrastructure investors and pension funds to take up the remaining 60%.

The Department of Business, Energy and Industrial Strategy (BEIS) said the investment “will be used by project developer EDF Energy to help bring it to maturity, attract investors and advance to the next stage in negotiations”.

To read more about the new funding and how Sizewell C is a key part of the new UK energy strategy, take a look at this article from the BBC.

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