image credit: Adobe Stock

UK Government Steps Up as 50% Owner of 3.2-GW Sizewell C EPR Nuclear Project

November 29, 2022

The UK government will bolster a proposal to build Sizewell C with a £679 million ($815 million) investment, giving the twin EPR nuclear power plant project—a combined 3.2 GW—new flexibility to proceed.

The UK Department for Business, Energy, and Industrial Strategy (BEIS) on Nov. 29 said that with the final investment decision, it intends to become a 50% partner with EDF, a company owned by the French state. The investment also allows for China General Nuclear’s (CGN) to exit from the project, providing for buy-out costs, taxes, and commercial arrangements. “The Government will work with the project company to seek to attract new third-party investment to help finance the project’s construction and operation,” it said.

Read More on Power Magazine