Approval for £38bn Sizewell C nuclear build after final investment decision

Sizewell C will be built by existing nuclear plant Sizewell B. (Photo: Adobe Stock)

Some 70% of the value of the construction project is expected to be awarded to British business, according to the Department for Energy Security and Net Zero, creating around 10,000 jobs on the project and around 1,500 apprenticeships.

The government has confirmed it will take an initial 44.9% stake in the project, to become its biggest shareholder.

Private investors include La Caisse with 20%, energy firm Centrica with 15%, and Amber Infrastructure with an initial 7.6%. French energy giant will take a 12.5% stake, as well as a proposed £5 billion debt guarantee from France’s credit export agency Bpifrance Assurance Export to back the company’s commercial loans.

The project aims to build on lessons learned from the construction of Hinkley Point C where Bylor, a joint venture between Bouygues and Laing O’Rourke, is the main contractor.

The £38 billion price tag for Sizewell C represents an expected 20% saving against the cost of building Hinkley Point C.

Sizewell C has already signed £330 million in contracts as part of preparatory works for the project.