Boris approves £700m Sizewell C funding

Aaron Morby 2 years ago
Share

Prime Minister Boris Johnson has backed the planned nuclear power station at Sizewell C in Suffolk confirming investment of £700m.

The project, which is being developed by French energy company EDF, is expected to cost about £20bn overall and needs to attract major institutional funding to get shovels into the ground.

In a speech at Sizewell on Thursday, Johnson said he was ‘confident’ the plant would get the formal go ahead in the course of the ‘next few weeks’.

The funding is just part of the £1.7bn pre-allocated pot of cash available for developing a large-scale nuclear project to final investment stage in this Parliament,

The final decision on the project will be taken by Johnson’s successor as prime minister.

Johnson underlined the Government’s ambition to build eight new nuclear reactors, approving one a year until the end of the decade.

The statement of intent by Johnson, was welcomed as a positive marker by the industry.

Director of operations for the Civil Engineering Contractors Association Marie-Claude Hemming said: “This announcement is a welcome first step in what we hope will be a sustained programme of investment in new nuclear.

“CECA has long argued that new nuclear power must be part of the mixed portfolio of energy generation the UK requires, both to ensure our energy security as a country, and to address the challenge of achieving a net zero carbon economy.

“Once it comes online Sizewell C will power the equivalent of six million homes and will have the potential to generate electricity for 60 years.

“We hope that this represents the beginning of a programme of investment that will deliver new nuclear power and hence home-grown clean energy to the whole of the UK.

“Our industry has a wealth of talent in the nuclear sector in many parts of the country, and we look forward to working with the Government and other stakeholders to ensure that new nuclear projects, once approved, are delivered on time and on budget.”

Latest news

Geoffrey Osborne supply chain hit for £26m

More than 500 suppliers and subcontractors left holding unpaid bills
2 days ago

SME contractors agree 4% pay rise for site workers

Workers will also get an extra day of holiday
2 days ago

Taylor Wimpey chief honoured with CBE

Jennie Daly recognised in King's Birthday honours
1 day ago

Labour to mothball £320m A27 job to fix potholes

Manifesto confirms Arundel Bypass canned as "poor value for money"
2 days ago

Lendlease’s £1.9bn Smithfield Birmingham scheme approved

Initial work to start later this year despite questions over Lendlease's degree of involvement
3 days ago

Crest Nicholson rejects £650m Bellway bid

Second Bellway approach rebuffed
3 days ago

Hill submits £800m East London estate rebuild plan

Over 1,900 homes to be built in five phase at Teviot Estate in Poplar
3 days ago

Plan approved for 8,500-seat Edinburgh indoor arena

Construction expected to start next year once a contractor is appointed
2 days ago

Statom starts on £25m Bristol Airport precast car park

Major work package on transport upgrade being overseen by Griffiths Farrans JV
3 days ago

Build problems plunge Crest Nicholson to a £31m loss

House builder unearths more defects on completed sites
3 days ago

Rebooted Amey lifts contract win rate to 1 in 3 bids

Amey chief says firm exceeded expectations in first year under new owners
3 days ago

BAM Nuttall fined £2.3m after worker drowned

Court hears how series of safety failures led to tragedy
4 days ago

OCU buys Scottish civils contractor RJ McLeod

Deal takes multi-utility infrastructure specialist revenue to over £800m
4 days ago

£220m plan to restore secret wartime tunnels approved

Tunnels under High Holborn to become cultural exhibition space
4 days ago

Galliford Try wins £69m Scottish school job

Deal sealed on Paisley Grammar School project in Renfrewshire
4 days ago

Balfour wins design for £690m Skye transmission job

Main work contract for 137km power line to be awarded later this year
4 days ago

Student and resi developer Fortis goes under

Cheshire based developer follows construction arm into liquidation
5 days ago

Construction output falls for third month running

Heavy rain and strong winds blamed for sharp fall in activity in April
4 days ago

Plan in for Leeds 27-storey block of flats

390 flats planned at former Morgan Sindall office site
5 days ago

Firms readied for £1.5bn Parliament estate upkeep deal

Invitation to tender due to go out next month
5 days ago

Amey switches kit supplier

Deal with HSS was worth £24.5m a year to rental specialist
5 days ago

Track workers scatter to avoid runaway rail trolley

Track trolley careers 1km towards work site
5 days ago

Direct delivery model pays off as Murphy profit soars to £67m

Group operating margin jumps from 3% to 5% in record year
6 days ago

Ex-Galliard boss to lead Battersea next building phase

Don O’Sullivan joins as plans advance to start phase 3C of power station redevelopment
5 days ago

£100m Digbeth 33-storey flats job out to bid

483 flats will be delivered for Clarion housing association
5 days ago

Van Elle fined £233,000 after piling rig kills driver

Court hears how tragedy was caused by poorly maintained plant
6 days ago

Renew buys utilities contractor Excalon

Infrastructure giant expand into electricity transmission market with £26m deal
6 days ago

Planning for new homes plunges to record low

Home builders call for urgent action from incoming government
5 days ago

JTRE starts £400m 21-floor London tower scheme

Office block and 64 affordable homes to be built at 220 Blackfriars Road site
6 days ago

R G Carter construction profits up despite 24% revenue fall

Selective client choice help profit jump to £6m from £1m previously
6 days ago

Contractor services