The government has announced the construction of the Sizewell C nuclear power plant will cost around £38 billion.
A deal has been struck with a group of investors to finally green light the development of long-awaited project, since it was first earmarked in 2010.
The Government will become the biggest equity shareholder in the project with a 44.9% stake.
New Sizewell C investors include Canadian investment fund La Caisse with 20%, British Gas owner Centrica with 15%, and Amber Infrastructure with an initial 7.6%.
It comes alongside French energy giant EDF announcing earlier this month it was taking a 12.5% stake – lower than its previously stated 16.2% ownership.
The total investment, which is split between equity funding from investors and debt financing, exceeds the target construction cost of #38 billion, therefore acting as a buffer in case costs overrun.
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