Funding for Sizewell C nuclear plant in drive to net zero

PLANS to build a nuclear power plant in Suffolk are to go ahead as the Government confirmed its support to cut carbon emissions to net zero by 2050.

Jeremy Hunt said the Sizewell C development would come to fruition as he announced the Treasury would be making an initial investment of £700million towards the £20billion project. He said the funding marked “the first state-backing for a nuclear project in over 30 years and represents the biggest step in our journey to energy independence”.

The funding is a boost for the project being led by France’s EDF, but does not resolve the question of how the full project will be funded. It is also facing local opposition. State-owned China General Nuclear (CGN) owns a development phase stake in the project. However, it is expected to be dropped from the scheme amid fears about Beijing’s involvement in national infrastructure.

EDF and CGN are building the Hinkley Point C plant in Somerset which is due to come online in 2026.

Mr Hunt told MPS: “Subject to final government approvals, the contracts for the initial investment will be signed with relevant parties in the coming weeks. It will create 10,000 highly skilled jobs and provide reliable, lowcarbon power to the equivalent of six million homes for over 50 years.”

The UK generates just under 16 per cent of its electricity from nuclear power plants.

Big Carl, the world’s biggest crane, places a steel ring on a reactor at Hinkley Point C in Somerset. China General Nuclear, which is building the plant with France’s EDF, faces opposition to its involvement in Sizewell C in Suffolk