Final decision on private investment expected later this year
Sizewell C has triggered its Development Consent Order (DCO), formally beginning the process that will lead to the construction of the new nuclear power station on the Suffolk coast.
The scheme was granted permission in July 2022 and has been undertaking preparatory work since then to allow construction to commence under the DCO.
Last month, the government’s decision to approve plans for the £20bn EDF scheme were upheld as lawful by the Court of Appeal.
In September last year, the government, alongside Sizewell C and EDF, launched an equity raise process to attract private investors to the project.
According to Sizewell C, “constructive discussions with qualified potential investors” are continuing and a final investment decision is expected later this year.
Sizewell C is part of the Department for Energy Security and Net Zero’s (DESNZ) strategy to generate 24GW of the UK’s power from nuclear sources by 2050.
When it comes online, the two-reactor scheme will generate a total 3.2GW of electricity, equivalent to 7% of the UK’s electricity.
The DCO has also freed up a £250m package of funding for the local area, which includes community projects, environmental measures, and cash for the local housing and tourism markets.
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