Centrica buys 15% stake in Sizewell C as UK nuclear plant gets go-ahead
The UK government has signed off on a multi-billion-pound deal for the Sizewell C nuclear plant in Suffolk, on the North Sea coast, after attracting four crucial investors including British Gas owner Centrica, which has bought a 15% stake worth £1.3bn. Other shareholders include Canadian institutional investor La Caisse (20%), French energy firm EDF (12.5%) and global investment manager Amber Infrastructure (7.6%). The UK government retains a 44.9% stake. Chris O’Shea, Centrica Group Chief Executive, said, “The UK needs more reliable, affordable, zero-carbon electricity, and Sizewell C will be critical to supporting the country’s energy system for many decades to come. This isn’t just an investment in a new power station – it’s an investment in Britain’s energy independence.” Despite opening the world’s first commercial nuclear power station in the 1950s, no new nuclear plant… Read More »Centrica buys 15% stake in Sizewell C as UK nuclear plant gets go-ahead