UK-based nuclear company NuGen has signed a land contract for Moorside site with the Nuclear Decommissioning Authority (NDA) for the proposed £10bn power plant.
The site, located to the north and west of the Sellafield complex in Cumbria, is expected to house three AP1000 nuclear reactors.
The company has signed the deal for an undisclosed amount and will now be responsible for the construction of the power project.
This sale follows months of test at the site to ensure about its suitability for construction of the reactors.
NuGen intends to continue characterisation studies at the site in the autumn, which will be used for detailed planning and site layout work.
NuGen chief executive Tom Samson said: "Our board has reached a decision of significance which confirms Moorside is suitable, against criteria at this stage of the development.
"NuGen, our vendors and our expert partners are all confident we can build three reactors on the site."
"This is great news for the North-West, and particularly for West Cumbria, the UK’s nuclear heartland."
Once operational, the nuclear project is expected to supply around 7% of the country’s future power needs.
NDA CEO John Clarke said: "The completion of this stage of the land sale brings a range of benefits both nationally and locally.
"It supports the initiative to have West Cumbria recognised as a centre of nuclear excellence, building on over six decades of nuclear expertise in the area, whilst delivering excellent value for money for the taxpayer and the national economy."
UK Energy Minister Andrea Leadsom said: "Backing the next generation of nuclear projects is a key part of our long-term plan to power the economy with clean, secure energy and keep bills as low as possible for hardworking families and businesses."
"We want the recovery to benefit all parts of our country, and Moorside will be a major infrastructure project that creates jobs and economic security for thousands of people and helps to deliver the Northern Powerhouse."
Image: NDA CEO L-R John Clarke with NuGen CEO Tom Samson. Photo: courtesy of Nuclear Decommissioning Authority.