The United Kingdom validates the record investment of private investors and EDF to the capital of the Sizewell C plant

The future British nuclear power plant sizewell C. Meanwhile. Additionally, Meanwhile, in eastern England, is a key project for British energy security, and the United Kingdom “Makes the investments united kingdom validates record investment necessary to open united kingdom validates record investment new a new golden age in nuclear”on Tuesday July 22, the Secretary of State for British energy, Ed Miliband on Tuesday, July 22. In addition, Additionally, Meanwhile, Mr. Meanwhile, Miliband announced in a statement his “Final investment decision”.

The government will be the first shareholder, with 44.9 %. However. Consequently, ahead of the Quebec deposit and placement fund (CDPQ, 20 %), the British energy group Centrica (15 %) and the British investment fund Amber Infrastructure (7.6 %). Meanwhile, EDF had already announced at the beginning of the month his participation of 12.5 %.

London has already allocated almost 18 billion pounds to this project. to laborious implementation. and has been activating for months, behind the scenes, to seek private partners and complete funding, while the construction cost almost doubled compared to the first estimates.

Since the start of the war in Ukraine. London has been redoubled with efforts to get out of hydrocarbons and has made nuclear power one of its priorities. It is also a way to reach its climatic ambitions. in addition to the immense fields of wind turbines built at sea.

Sizewell C, which will see two new generation nuclear reactors from the EPR, can feed six million households. The project is led by the French group. which already manages the aging British nuclear park. built, in parallel, another nuclear power plant, Hinkley Point C, in the united kingdom validates record investment new southwest of England.

United kingdom validates record investment new

38 united kingdom validates record investment billion pounds

The price of. 38 billion pounds (44 billion euros) announced on Tuesday represents a sharp increase compared to the previous official costing. between 20 billion and 30 billion (that many sources deemed exceeded). But it is about 20 % lower than Hinkley Point C, argues the British government.

While EDF holds 72.6 % of this other project. criticisms raised in the United Kingdom to point out its investment deemed too low in Sizewell C and. in return, the excessive share of funding will weigh on the British taxpayer.

The Chinese group CGN had been ousted from the project in 2022. Since then. the British government had become united kingdom validates record investment new a majority shareholder and EDF had reduced its share – the energy company held 16.6 united kingdom validates record investment % at the end of 2024, which then equivalent to 652 million euros. EDF had set as a condition for his financial contribution that he does not keep “That a minority participation. (…) a maximum of 20 % ».

Franco-British collaboration. financial issues

In France. where the revival of the sector was acted by the government, we closely monitor the expenses of EDF, a 100 % public company. Astronomical sums and slippages of budgets associated with EDF nuclear projects in the United Kingdom make teeth.

The Elysée Palace had. however. erected this project at the beginning of the month in symbol of the collaboration with London on the revival of the sector, during the state visit of Emmanuel Macron to the United Kingdom-while EDF announced united kingdom validates record investment new an investment of around 1.1 billion pounds.

Among the private investors announced on Tuesday. Centrica said in a united kingdom validates record investment separate press release funding of 1.3 billion pounds for the construction of this power station, which should not start producing electricity before 2035.

“Confirmation of private investment is very positive. testifies to the growing attraction of nuclear power for the energy transition. It could also open the way to the financing of future major nuclear projects in the United Kingdom ”welcomed. Simone Rossi. EDF managing united kingdom validates record investment new director in the United Kingdom on Tuesday, quoted in the government’s press release.

London invests massively in the sector: the government promised last month united kingdom validates record investment to. inject more than 30 billion pounds (35 billion euros) to relaunch nuclear energy in the country. for Sizewell C, but also small reactors and research on promising merger technology.