Boris Johnson approved the construction of a new nuclear power plant

British Prime Minister Boris Johnson has approved funding for the construction of two new nuclear reactors at Suffolk. The Guardian. The cost of the project of a new nuclear power plant called Sizewell C is estimated at £ 20-30 billion. The total capacity of the two reactors will be 3.2 GW.

Johnson made the fundamental decision to build a new nuclear power plant in the country back in July, according to government sources. After that, the authorities discussed the investment plan for the construction. “In the next few weeks, we will announce a government investment decision for Sizewell C, in which the government will formally commit itself to funding the project. This allows the project to raise private capital in the markets. But only at the time of making the final investment decision in early 2023, the government will formalize any share in the authorized capital, ”one of the sources told the publication.

The Sizewell C project was developed by a consortium of French EDF Energy and China’s China General Nuclear Power Group, which own 80% and 20% of the project, respectively. It is expected that the government will decide to buy up to 20% stake in the project, investing up to £6 billion in it.

There are currently 15 nuclear reactors operating in the country, but many of them are nearing the end of their useful lives.

Kirill Sarkhanyants