UK government, EDF to each take 20% stake in Sizewell C nuclear project – BBC

The U.K. government and Electricité de France SA confirmed plans to each acquire a 20% stake in the planned Sizewell C nuclear power plant in England, the BBC reported.

The move would increase the U.K. government's investment in the project to approximately £1.5 billion from £100 million, according to the report.

U.K. government officials are hopeful that the confirmation of a 40% share in Sizewell C by the two investors will encourage participation by infrastructure investors and pension funds for the remaining 60% stake in the £20 billion nuclear power plant. Earlier in March, London's Financial Times reported that the government is seeking investors in a move to oust China General Nuclear Power Corp. from the project.

The House of Commons is set to hold a second reading in April on a proposed bill that would allow construction and financing costs for the Sizewell project to be added to customer bills, the BBC reported.

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