UK government closes Sizewell nuclear project financing round C

The UK government has announced that it has closed the funding round for the Sizewell C nuclear project, which is estimated to cost £38 billion. The UK government, the project's largest shareholder, has managed to reduce its stake in the project to 44.9%. The other shareholders in the project are Caisse des dépôts et placement du Québec (20%), Centrica (15%), EDF (12.5%) and Amber Infrastructure (7.6%). The project is structured in such a way that the cost of construction is borne by consumers (through an adjustment to the electricity transfer tariff) and not by the project's shareholders. This is a significant difference from the Hinkley Point project, where it is the project shareholders who bear the construction risk. The plant is scheduled to come on stream in the second half of the 2030s.