UK government begins search for private investment into Sizewell C
19 September 2023
The UK government announced on 18 September that the application process for partners to register their interest in being part of Sizewell C nuclear power station project is now open. Private investors now have their first chance to come forward and qualify to invest in Sizewell C.
Image: EDF
The government, the Sizewell C Company and EDF, the project’s lead developer, are looking for companies with substantial experience in the delivery of major infrastructure projects. Any investment will also be subject to strict national security checks, the Government said.
Sizewell C is expected to house two of the most powerful nuclear reactors in the world. It will generate reliable, low-carbon power for up to 6 million homes over 60 years, avoiding 9 million tonnes of carbon each year. At peak construction, it is expected to support 10,000 jobs across the country.
In a show of support, the Government has already invested £700 million in the project – the first such direct public investment in a nuclear project for a generation. Ministers have also made £511 million available to continue project development and prepare the Suffolk site for construction, ahead of the planned private equity raise for the project in advance.
The Government is delivering a revival of nuclear power by investing in large scale reactors as well as emerging technologies, such as Small Modular Reactors, with the ambition of having up to a quarter of the UK’s electricity generated by nuclear by 2050.
Sizewell C Company Joint Managing Director, Julia Pyke, said: “The launch of the formal equity raise opens another exciting phase for the project, following a positive response from investors during market testing.
“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.”
The initial process launched on 18 September invites partners to complete a pre-qualification assessment. Companies will have to demonstrate that they meet the key criteria for entering negotiations on a potential equity stake in Sizewell C, including experience in delivering major infrastructure projects.
The process has been designed following market testing with a cross-section of partners.
While details of the investors who come forward and get involved cannot be provided at this stage given the need for commercial confidentiality, ministers will be looking for private investors who can add value to the project and will only accept private investment if it provides value for money, while bolstering energy security.
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