Change Edison EDF recently celebrated its success at achieving financial close for a new 3.2GW Sizewell C nuclear project setup. This is a noteworthy achievement for developing two European Pressurised Reactor (EPR) nuclear reactors on the Sizewell site on Suffolk, England. This behemoth project hopes to follow the same path to success as the Hinkley Point C project, another EDF-driven project that they have championed. It will be instrumental in getting clean, carbon-free electricity to all of the UK’s residents.
Sizewell C has managed to line up some £5 billion worth of financial support. This figure, approximately $6.55 billion, includes export credit financing guaranteed by BpifranceAE. The project has obtained debt financing from the National Wealth Fund, further strengthening its financial base. EDF solidified its own plans to invest in proceeding with Sizewell C by as early as July 2025. This decision demonstrates their deep, long-term commitment to the program.
Investment Structure and Financial Arrangements
While EDF has reached financial close, they are not in a position to make new cash investments at this time. The deal is said to give the company reimbursement for developing the device since 2015. This part of the deal is pretty huge. As part of the deal, EDF would be paid to share the expertise they would gain through the Hinkley Point C project. This experience sharing should increase the productivity and performance of operations at Sizewell C.
The total investment for the entire construction period is planned to go up to £1.1 billion (€1.25 billion). At the same time, EDF will continue to own a 12.5% equity interest in the project. This structure of the investment makes EDF’s commitment all the more significant. It demonstrates the collective effort needed to make Sizewell C a reality.
Economic and Environmental Impact
The Sizewell C project will be well placed to provide wide-ranging benefits to the UK economy and future energy landscape. Approximately 40 French suppliers are engaged with this effort. This deep partnership between France and the UK will help maintain useful skills in both countries and tap into experience gained through nuclear projects to get it right. Renewed UK-French cooperation collaborating is extremely important for the further and successful development of France’s EPR2 programme.
Besides the economic benefits it will undoubtedly bring, Sizewell C will provide a major boost to the UK’s clean energy capacity. Further, by providing carbon-free electricity, the project is consistent with national and international priorities and promises to lower greenhouse gas emissions. That’s why the successful delivery of Sizewell C will greatly enhance the UK’s transition to clean energy. It has great potential to be at the forefront of this critical transition.