EADT Government exploring financing options for Sizewell C


17 September 2020

The government has said it is exploring financing options for Sizewell C after plans were scrapped for a nuclear power station in Wales.

Japanese technology firm Hitachi has pulled the plug on plans to build the Wylfa station in Anglesey, north Wales, blaming the impact of the coronavirus pandemic on “the investment environment”.

The decision has led to concerns EDF’s £20billion Sizewell C project on the Suffolk coast could also suffer a similar fate, in which case thousands of jobs would not be created.

China Nuclear Power Corporation has a 20% stake in the scheme – but relations between the UK and China have become more heated in recent months.

However, the government has now revealed it is looking at “a range of financing solutions” to ensure the power station can be built.

Among the options being considered is the government taking a stake in the station.

A government spokesperson said: “Nuclear energy has a key role to play in meeting our net zero commitments.

“We regularly engage with all developers on their projects and are considering a range of financing solutions.”

However, campaigners against the nuclear power station have expressed concern at potential government involvement in the project.

Alison Downes, of Stop Sizewell C, said: “Government must not prop up this white elephant which cannot contribute to net zero until 2040, would burden the UK for generations to come with still unproven technology, blight an area of outstanding natural beauty and suck investment away from the 21st century clean energy technologies that need it most.”