Project Finance

Demand for nuclear power is gaining momentum globally as countries grapple with the need to meet decarbonization goals while also achieving greater energy security. At the same time, a surge in the number of energy-hungry data centers has created a need to expand capacity to meet the corresponding increase in demand for reliable low-carbon power.

Nuclear power plants may not be cheap, but they are increasingly seen as a solution worth investing in. In July 2025, the U.K. government made a final investment decision on Sizewell C, a new 3.2 gigawatt (GW) nuclear power plant located in southeast England. Subsequently, S&P Global Ratings assigned its 'BBB+' rating to a debt facility issued by Sizewell C Ltd. (SZC) (see Research Update: Sizewell C Ltd.'s HMG Term Facility Assigned 'BBB+' Rating; Outlook Stable, published Nov. 4, 2025). The project is the first nuclear power transaction to be publicly rated under our project finance methodology.