Centrica PLC (LSE:CNA) is preparing to acquire a 15% stake in the Sizewell C nuclear power station, according to reports.
The British Gas owner has been in talks for several months over a potential investment in the Suffolk-based plant, which is backed by French utility EDF and the UK government.
Although Centrica declined to comment on the reports, chief executive Chris O’Shea previously said he was “hopeful” of agreeing a deal this year, but noted it would depend on the project’s costs and expected returns.
The Financial Times reported that the planned stake would match EDF’s holding.
Sizewell C, which is expected to be operational in the 2030s, aims to generate enough electricity for six million homes.
The government recently confirmed £14.2 billion in funding for the project, with a final investment decision anticipated before Parliament’s summer recess on 21 July.
Centrica shares were flat at 161.45p.