Construction of a major nuclear power station is to be sped up after a £1.3 billion investment, the largest funding package to date.
Yet more funding to ramp up preparations for Sizewell C in Suffolk has been announced by the Department for Energy Security and Net Zero, ahead of a final investment decision later this year.
This latest funding will finance ongoing preparatory works such as improvements to roads and rail lines around the site, ensuring necessary infrastructure is in place before full construction begins.
£700 million of funding was pledged to the project by the government in November 2022, followed by a further £511 million last summer.
The new financing follows a Development Consent Order (DCO) earlier this month, giving the green light for construction to begin and releasing £250 million of funding for local initiatives – and after the UK Government revealed plans for a third nuclear power plant after Hinkley Point C in Somerset and Sizewell C, as part of its Civil Nuclear Roadmap.
The government hopes to see up to 24GW of the UK’s power come from nuclear sources by 2050 – four times its current level.
Like Hinkley Point C, Sizewell will have two EPR reactors, generating 3.2GW of electricity.
At full capacity, it is hoped the new facility will provide power to the equivalent of six million homes over 60 years.
Seventy per cent of construction contracts for Sizewell C will go to UK businesses, said the government.
The project will also create 1,500 apprenticeships, it added.
“This significant investment underlines the importance of Sizewell C for Britain and is a further sign of confidence in our team to deliver it,” said Julia Pyke and Nigel Cann, joint managing directors at Sizewell C. “With the project now in construction, the funding means we can step up activity in Suffolk and deliver on our commitments to local communities.
“Sizewell C will build on the huge contribution of Hinkley Point C in restarting nuclear construction in Britain. It will bring another big boost to British nuclear skills and training, putting the industry in an even better position to deliver the other projects this country needs for its low carbon future.”
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