UK signs investment deals on US$51 billion Sizewell C nuclear plant
The British government will retain a minority stake of around 45 per cent, while other investors include French state-owned Electricite de France SA, Caisse de Dépôt et Placement du Québec, Centrica Plc and Amber Infrastructure Group Ltd.
The major backing from private investors in the project was seen by the government as a key victory as the UK tries to drive investment and economic growth.
The government said it would ensure the impact on consumer bills was limited to an average of around £1 per month over the duration of Sizewell C's construction.
It was a milestone for UK Prime Minister Keir Starmer's government to drive investment in low-carbon electricity supply to cut emissions and boost economic growth. EDF has said the two reactors in Suffolk on England's east coast would supply power to 6 million households for about 60 years.
'Today we announce an investment that will provide clean, home-grown power to millions of homes for generations to come,' UK Energy Minister Ed Miliband said in a statement on Tuesday.
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South China Morning Post
a day ago
- South China Morning Post
UK signs investment deals on US$51 billion Sizewell C nuclear plant
The UK has made a final investment decision on the Sizewell C nuclear power plant, a £38 billion (US$51 billion) project that would be critical to the country's energy and climate goals. The British government will retain a minority stake of around 45 per cent, while other investors include French state-owned Electricite de France SA, Caisse de Dépôt et Placement du Québec, Centrica Plc and Amber Infrastructure Group Ltd. The major backing from private investors in the project was seen by the government as a key victory as the UK tries to drive investment and economic growth. The government said it would ensure the impact on consumer bills was limited to an average of around £1 per month over the duration of Sizewell C's construction. It was a milestone for UK Prime Minister Keir Starmer's government to drive investment in low-carbon electricity supply to cut emissions and boost economic growth. EDF has said the two reactors in Suffolk on England's east coast would supply power to 6 million households for about 60 years. 'Today we announce an investment that will provide clean, home-grown power to millions of homes for generations to come,' UK Energy Minister Ed Miliband said in a statement on Tuesday.
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