By Adam Whittaker

The U.K. government approved the 38 billion-pound ($51.27 billion) Sizewell C nuclear power plant in southeast England, becoming the project's biggest shareholder.

The government said Tuesday that it will take an initial 44.9% stake in the 3.2 gigawatt nuclear power station under construction in Suffolk. The other investors include the pension fund La Caisse with a 20% stake, U.K.'s Centrica with 15%, French energy giant EDF with 12.5% and Amber Infrastructure with an initial 7.6% stake.

The U.K. government said its National Wealth Fund will help provide the financing required.

In a separate release,   Centrica said it would invest 1.3 billion pounds in the project.

EDF welcomed the government's decision and said the project reflects the growing attraction of nuclear power in the energy transition.

The government said the Sizewell plant supports 10,000 jobs at the time of peak construction.

Governments around the world are reconsidering nuclear energy as an alternative to oil and gas amid rising energy needs. No new nuclear power plans have opened in the U.K. since 1995 and all of the country's existing reactors exempt Sizewell B are likely to be phased out by the early 2030s, the government said.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

July 22, 2025 03:13 ET (07:13 GMT)

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