Green Light for Sizewell C: A Boost for UK Energy
The UK has approved the construction of the £38 billion Sizewell C nuclear plant in eastern England. Major stakeholders include the UK government, Canadian pension fund La Caisse, Centrica, Amber Infrastructure, and EDF. This move aims to enhance energy security, achieve climate goals, and create employment.
The Sizewell C nuclear plant in eastern England has received final approval, marking a significant step in the UK's energy future. The project, valued at £38 billion ($51 billion), secured investment from prominent partners, including Canadian pension fund La Caisse, Centrica, and Amber Infrastructure.
The UK government will emerge as the largest shareholder, holding a 44.9% stake. In addition, La Caisse will hold 20%, Centrica 15%, and Amber Infrastructure 7.6%. They join France's EDF, which previously committed to a 12.5% stake in the project.
The development comes as Britain seeks to update its nuclear infrastructure, replacing an aging fleet, bolstering energy security, fulfilling climate commitments, and generating jobs. Centrica has pledged £1.3 billion in construction funding as part of its agreement with the government.
(With inputs from agencies.)
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