𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

The Government has announced the construction of the Sizewell C nuclear power plant in Suffolk will cost around £38 billion, as it struck a deal with a group of investors.

The Department for Energy Security & Net Zero (DESNZ) said Energy Secretary Ed Miliband had signed the final investment decision for the development.

The Government will become the biggest equity shareholder in the project with a 44.9% stake.

New Sizewell C investors include La Caisse with 20%, Centrica with 15%, and Amber Infrastructure with an initial 7.6%.

It comes alongside French energy giant EDF announcing earlier this month it was taking a 12.5% stake – lower than its previously stated 16.2% ownership.

Mr Miliband said: “It is time to do big things and build big projects in this country again – and today we announce an investment that will provide clean, homegrown power to millions of homes for generations to come.

“This government is making the investment needed to deliver a new golden age of nuclear, so we can end delays and free us from the ravages of the global fossil fuel markets to bring bills down for good.”