£170m boost to prepare Sizewell C site for construction
The Government has injected £170m into the Sizewell C projects to speed up preparations for construction of the major nuclear power station project.
The previously-allocated development cash will be used to prepare the Sizewell C site for future construction, procure key components from the project’s supply chain, and expand its workforce.
Nuclear and Networks Minister Andrew Bowie said: “With government support, our nuclear industry will play a critical role in supplying cleaner, home-grown energy, and boost our energy security by reducing our reliance on fossil fuels from abroad.
“The steps we’re taking today will speed up the development of one of our biggest projects, Sizewell C, towards final approval, which would enable construction to start as soon as possible, supporting thousands of jobs for communities in Suffolk and across the country.”
The release also underlines the Government’s commitment to getting Sizewell C built as it seeks to attract potential private investment into the nuclear project under the new regulated asset base (RAB) model for funding nuclear.
At the peak of the construction work, Sizewell C would support 10,000 jobs nationwide, with supply chain plans for 70% of the value of construction contracts to go to UK businesses.