Funding for UK’s Sizewell C nuclear power plant approved

• 1 year, 8 months ago (2022-08-22)
• David Flin

Europe 1061 Nuclear 640

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The UK Government has approved funding for construction of the new Sizewell C nuclear power plant in Suffolk.

Private funding estimated at £20-30 billion will be sought for the project. The UK Government will make a final decision on public investment early in 2023, and it is expected to take a 20 per cent stake in the plant.

However, the decision has been made by Prime Minister Boris Johnson, due to leave office on September 6 following his resignation as leader of the governing Conservative party. One of the two candidates to replace him as party leader and Prime Minister, Liz Truss, is thought to be likely to reverse the decision.