The U.K. government has ambitious plans for the rapid expansion of the country’s nuclear energy sector, with two nuclear plants slated for the next decade, and discussions around a third. EDF’s Hinkley Point C in Somerset and Sizewell C in Suffolk have both been approved by the government, expected to support the U.K.’s transition away from fossil fuels to greener alternatives in line with national climate pledges. The U.K.
This is the first of this type of license to be granted in over a decade. Sizewell C is expected to be a replica of the company’s Hinkley Point C. EDF is racing to reach a final investment decision on the project by the end of 2024. Unlike Hinkley, EDF holds just under a 50 percent stake in Sizewell, with the government holding just over 50 percent. The company is now seeking new investment following the banning of China’s CGN from funding the development due to security concerns.