The UK government has announced an investment of £14.2bn ($19.2bn) in the construction of the Sizewell C nuclear plant in Suffolk.
The development is seen as a pivotal step in achieving low-carbon electricity and reducing dependency on fossil fuels in the country.
Go deeper with GlobalData
Sizewell C’s 3.2GW capacity will provide enough electricity for six million homes and create 10,000 jobs.
The nuclear plant is designed similarly to Hinkley Point C, a large-scale plant currently delayed and costing more than initially planned.
The latest funding for Sizewell C adds to the substantial financial support already dedicated over a decade of planning for the proposed facility, which could ultimately cost more than £40bn to complete.
The commitment underscores nuclear power’s vital role in Britain’s energy strategy, complementing an expanding array of offshore wind farms to establish a stable source of green energy.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataChallenges such as escalating costs and lengthy approval procedures have hindered efforts to secure investments needed to replace ageing reactors across the country.
The investment in Sizewell C forms part of Chancellor Rachel Reeves’ broader spending review, encompassing sectors from healthcare to defence.
With this latest allocation, the total governmental backing for Sizewell C reaches £17.8bn, as reported by Bloomberg.
Despite governmental funding allocation, Sizewell C still requires a final investment decision contingent upon private sector financing.
Ministers aim to secure investors at the Anglo-French summit in London planned for July 2024, according to reports from the Financial Times.
The UK plans to soon disclose results from a competition aimed at supporting small modular reactor development, highlighting further diversification within Britain’s future energy mix.
Contenders include a division of Rolls-Royce and a partnership between GE Vernova and Hitachi.
In March 2025, Amentum, a provider of engineering and technology solutions, was designated as the exclusive programme and project management partner for Sizewell C.
