Sizewell C secures £38 billion investment to support new nuclear plant and fuel job growth
The Sizewell C plant will provide low carbon electricity beginning in 2030 for generations to come. It will also help support the country’s energy transition to Net Zero.
Sizewell C is the first new nuclear project globally to be financed with independent, private financial investors. The financing unlocks full-scale construction of the Suffolk-based plant, which, once operational, could create cheaper power for consumers.
The project will sustain jobs and skills in the nuclear industry until other projects are more fully developed.
It is only the second new nuclear plant built in Britain in more than two decades and is expected to power six million homes.
Societe Generale acted as Mandated Lead Arranger and Bookrunner of £5 billion of a Bpifrance Assurance Export-covered senior facility. Alongside Societe Generale, the financing brings together a group of international sponsors, banks and the UK’s National Wealth Fund.
Zvi Wohlgemuth, Global Head of Development and Structured Export Finance and UK Head of Global Banking and Advisory, Societe Generale said: “We are proud to have worked with the sponsors and the UK Government to deliver this landmark project. Not only will it play a primary role in delivering a more secure, cleaner and more affordable energy system in the UK, but it will create thousands of jobs, mainly in the UK.”