Prospective investment partners can register their interest in Sizewell C from this week (18 September).
Sizewell C will be a 3.2GW nuclear power plant located in Suffolk and developed by EDF Energy. According to the government, the power plant will house two of the most powerful nuclear reactors in the world.
Energy Security Secretary Claire Coutinho yesterday (18 September) announced that applications for partners to register their interest in the project have now opened as part of the next stage of the investment process.
Companies with “substantial experience” in delivering major infrastructure projects will be favoured and any investment will be subject to strict national security checks.
“Investing in Sizewell C is an exciting opportunity to be a part of the UK’s nuclear revival – delivering clean, reliable, and affordable power for generations to come,” said Coutinho.
“This project will create thousands of jobs, power 6 million homes and will boost our energy security.
“We are focused on securing good value for taxpayers and look forward to seeing strong and competitive bids to be a part of this exciting project.”
The UK government has taken an enthusiastic approach to building up the UK’s nuclear industry, following the launch of Great British Nuclear in July 2023, and Sizewell C is a major move in it’s strategy.
An impressive amount of funding has been granted towards the project by the government as, following a “historic” £700 million investment in November 2022 and £170 million in July 2023, a further £341 million of previously allocated funding was granted for the project in August.
This funding totals over £1.2 billion.
“The launch of the formal equity raise opens another exciting phase for the project, following a positive response from investors during market testing,” added Sizewell C Company joint managing director, Julia Pyke.
“Investors who participate in Sizewell C would be contributing to one of the biggest clean energy projects in the UK. They should feel confident in our proposals as we are building a replica project with government backing, a mature reactor design and a workforce ready to build it.
“We look forward to starting the main site construction and delivering this vital project which will reduce costs for consumers and help to create a future-proof low-carbon energy system for Britain.”