The UK Government has announced that it will invest £14.2 billion to build the 3200 MW Sizewell C nuclear power plant in Suffolk, England.
Rachel Reeves, UK Chancellor, said that the “landmark decision would kickstart economic growth, creating 10 000 direct jobs during construction.” Ed Miliband, UK Energy Secretary, said that the investment was necessary to “usher in a golden age of clean energy.”
EDF has a 15 per cent stake in Sizewell C. Once operational, Sizewell C is expected to employ 900 people.
It is expected that Sizewell C will take 10 years to complete. It will be a copy of Hinkley Point C in Somerset. The final investment decision on the funding model for the plant is due later this summer.