The UK government has announced an additional investment of £1.3bn for supporting the construction of the 3.2GW Sizewell C nuclear power station by French energy company EDF on the Suffolk coast in England.
The latest funding commitment announced by the UK Department for Energy Security and Net Zero comes after the government’s previous pledges of £700m in November 2022 and an additional £511m agreed last summer. It also consolidates the position of the British government as the majority shareholder in the nuclear power project.
According to the department, the latest funding package offered by the government to the Sizewell C nuclear power station, the largest so far, will enable the progression of early construction activities leading up to a final investment decision later this year.
To be sourced from existing budgets, the package will facilitate ongoing preparatory efforts, including enhancements to roads and rail lines surrounding the Suffolk site. This aims to ensure that essential local infrastructure is established before the commencement of full-scale construction.
The Department for Energy Security and Net Zero emphasised that providing additional government support at this juncture will contribute to keeping the Sizewell C project on schedule and managing overall costs effectively.
UK Nuclear Minister Andrew Bowie said: “We are making fantastic progress on the next GW-scale power plant in the UK’s nuclear pipeline.
“This investment injection means we can steam ahead with work on Sizewell C ahead of the final investment decision targeted later this year.
“It’s a win for our energy security and sends a strong message to investors that Britain is serious about its low-carbon, homegrown nuclear-powered future, providing reliable, cheaper power for British families.”
Earlier this month, Sizewell C initiated its development consent order (DCO), thereby officially approving the commencement of construction and allocating £250m in funding for local community and environmental initiatives.
Sizewell C joint managing directors Julia Pyke and Nigel Cann said: “With the project now in construction, the funding means we can step up activity in Suffolk and deliver on our commitments to local communities.”
Upon commencement of operations, the Sizewell C nuclear power station is anticipated to meet 7% of the UK’s energy needs, providing sufficient power for over 60 years to up to six million British households.
