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UK to Invest Extra £1.3 Billion to Build Sizewell Nuclear Plant

The Sizewell B nuclear power station, operated by Electricite de France SA (EDF), stands in Sizewell, U.K., on Friday, May 15, 2020. The network operator struck a deal with EDF to cut supply at its Sizewell nuclear plant by half for at least six weeks because the demand for power is 20% lower than normal as measures to contain the coronavirus have shut industry and kept people at home for weeks.

The Sizewell B nuclear power station, operated by Electricite de France SA (EDF), stands in Sizewell, U.K., on Friday, May 15, 2020. The network operator struck a deal with EDF to cut supply at its Sizewell nuclear plant by half for at least six weeks because the demand for power is 20% lower than normal as measures to contain the coronavirus have shut industry and kept people at home for weeks.
, Bloomberg

(Bloomberg) — The UK government will invest an additional £1.3 billion ($1.7 billion) to build the Sizewell C nuclear plant to try and entice private investors to back the project.

The government will be the majority shareholder in Sizewell and is hoping to clinch a final investment decision this year. The extra cash follows a £700 million funding pledge in November 2022 and a further £511 million agreed last summer, according to a statement on Monday.

 

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Anne Joseph is a passionate social media writer and working at Bouxtie. She has strong strategy skills in developing and managing social media campaigns. She loves to make new connections and enjoy the opportunity to work with social media influencers. Start following her on Twitter.com.

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