UK Seeks Private Investors for Two of the World's Most Powerful Nuclear Reactors

The United Kingdom has embarked on a quest to secure private investments for the "nuclear venture" known as Sizewell C, which will operate two of the world's most potent nuclear reactors.

This initiative was reported by Mirage News.

The UK government, along with Sizewell C and EDF, is actively seeking companies with substantial experience in executing major infrastructure projects.

"Investing in Sizewell C presents an exciting opportunity to be part of the nuclear renaissance in the UK, ensuring clean, reliable, and affordable electricity for future generations. We are committed to delivering good value for taxpayers and look forward to receiving strong and competitive bids for this exciting project," stated Claire Coutinho, Secretary of State for Energy Security and Net Zero.

She noted that "any investments will also be subject to rigorous national security checks."

The government has already reached out to potential investors in the United Arab Emirates, Australia, and Saudi Arabia. The idea of a public offering of shares in the project has also been floated.

"Investors participating in Sizewell C will contribute to one of the largest clean energy projects in the UK. We eagerly anticipate the start of construction at the main site and the realization of this vitally important project, which will reduce consumer costs and help create a low-carbon energy system for Britain's future," added Julia Pyke, Director of Sizewell C.

The construction of an atomic station capable of generating approximately 3.2 GW of electricity, enough to power around 6 million homes, was approved by the French energy giant EDF in July 2022.

It is expected that at the peak of construction, 10,000 jobs will be created across the country.

The government is reviving nuclear energy by investing in large-scale reactors as well as new technologies like small modular reactors, with the aim of having a quarter of the UK's electricity generated by nuclear power stations by 2050.

As a show of support, the government has already invested £700 million in the project, marking the first direct state investment in a nuclear venture.

The UK government and EDF have also allocated £511 million for the continued development of the project and site preparation ahead of planned capital raising for the project.