Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Energy

Sizewell C gets final go ahead for construction to start

Sizewell C has received the final go ahead needed from the government for initial construction to start.

Energy minister Andrew Bowie visited the new nuclear power plant site on Monday, after the government officially triggered a development consent order, granting permission for work to begin.

A host of obligations had to be met before the order was granted, such as road surveys, with Sizewell C confirming these had now been done.

Today we welcomed @AndrewBowie_MP to celebrate a significant milestone as we trigger planning permission, giving the green light for construction to begin.

This is a major step forward for the project and we're excited about the journey ahead.

Learn more: https://t.co/QYBS5jC510 pic.twitter.com/jz7WckZesU

— Sizewell C (@sizewellc) January 15, 2024

As a result, accommodation can be built to support an anticipated nine-year development process for the 3.2 gigawatt plant.

Energy firm EDF is set to build the plant, which, at an anticipated £20 billion, will be a replica of the new large-scale European pressurised reactor at Hinkley Point C.

EDF is set to mainly fund the project, with Bowie having reassured last week that the project was “on track” to raise enough finance by the end of this year.

A final investment decision is yet to be made with campaigners from pressure group Stop Sizewell C arguing the go-ahead had been given too early as a result.

“We are shocked that the government has let loose the bulldozers at Sizewell C,” Alison Downes, of the group, said on Monday.

“The finance for this deeply flawed project is, by their own admission, still months away.

“It is also telling that the enormous cost is being kept secret.”

Sister project Hinkley Point C has faced repeated delays since being granted the go-ahead in the late 2000s, with the project’s price tag also having doubled from initial forecasts to over £33 billion.

Hinkley is currently due to begin producing power by 2027, with Sizewell also expected to aid the government’s target of increasing UK nuclear power capacity to 24GW by 2050.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK