Sizewell C: EDF Ready to Take a 12.5% Stake in Future UK Reactors

EDF has confirmed its intention to invest up to €1.3 billion in the Sizewell C project, a future nuclear power plant in the United Kingdom. This 12.5% equity stake, announced shortly after French President Emmanuel Macron’s state visit to London, marks a strategic milestone for the French energy company.

As Emmanuel Macron concluded a major state visit to the UK, France’s involvement in the British civil nuclear programme gained further momentum. Just before the meeting, a press release stated: “EDF announces its intention to invest in the Sizewell C project, ahead of the final investment decision.” The company has thus expressed its intention to invest up to £1.1 billion (approximately €1.3 billion) in the project. EDF’s final stake would therefore amount to around 12.5%.

In a press briefing, the Élysée Palace welcomed “excellent news” and highlighted the opportunity to “strengthen EDF’s presence in the United Kingdom”, adding that “Sizewell C will provide visibility and workload for EDF’s factories and teams.” In its own statement, EDF confirmed this point, noting that “the Sizewell C project will help develop the skills of the nuclear industry and create synergies and shared learning with the EPR2 programme in France.”

Towards a Final Investment Decision

The next key milestone is the final investment decision (FID). Initially expected by the end of 2024, the FID was postponed to spring 2025. However, following these recent commitments, the UK government is now aiming for a decision as early as this summer.

London has already pledged £14.2 billion (around €17 billion) for the project. While Chinese company CGN was initially involved in funding the project, it has since been excluded by the UK government. The country is now seeking private investors. According to the Financial Times, Brookfield Asset Management is set to become the largest private investor, with a stake exceeding 20%, making it the main shareholder after the government. The Financial Times also reports that Centrica (parent company of British Gas) is close to acquiring a 15% stake.

An Ambitious British Programme

The Sizewell C project replicates the design of Hinkley Point C, which is currently under construction. Both nuclear power plants will be equipped with EPR (European Pressurised Reactor) units, each with a capacity of 1.6 GW. These two projects are central to the UK’s nuclear revival, which aims to generate up to 25% of the country’s electricity from nuclear by 2050.

“We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis,” said UK Energy Secretary Ed Miliband in June. ■