{"id":1541075,"date":"2025-06-11T07:30:00","date_gmt":"2025-06-11T11:30:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1541075"},"modified":"2025-06-11T07:30:00","modified_gmt":"2025-06-11T11:30:00","slug":"uk-announces-19-3-billion-funding-for-new-nuclear-power-project","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/uk-announces-19-3-billion-funding-for-new-nuclear-power-project\/1541075\/","title":{"rendered":"UK Announces $19.3 Billion Funding For New Nuclear Power Project"},"content":{"rendered":"

UK Announces $19.3 Billion Funding For New Nuclear Power Project<\/span><\/p>\n

\n

Weeks after Germany decided to reverse course<\/a> and ‘re-embrace’ nuclear power following their supreme idiocy on the matter, the UK government announced on Tuesday that it would invest\u00a014.2 billion pounds (US$19.3 billion)\u00a0<\/strong>to build a new nuclear plant in the southeast of England.<\/strong><\/p>\n

Sizewell B nuclear power station, in Sizewell, England, on Sept. 1, 2022. Chris Radburn\/AFP via Getty Images<\/em><\/a><\/p>\n

The move was revealed by the Department for Energy Security and Net Zero as part of its broader spending review, which will lay out priorities for the next four years.<\/p>\n

The new plant, named Sizewell C, will be located in Suffolk county, and is predicted to create around 10,000 jobs during construction, according to a government statement<\/a>. Once operational,\u00a0it will create enough electricity power roughly 6 million homes.<\/strong><\/p>\n

“We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis,” said Energy Minister Ed Miliband. “This is the government\u2019s clean energy mission in action, investing in lower bills and good jobs for energy security.”<\/p>\n

As the\u00a0Epoch Times<\/em><\/a>\u00a0notes further, the\u00a0UK has also been tapping up new investors to fund the construction of Sizewell C, but no new partners were mentioned in the announcement.<\/strong><\/p>\n

Neither the total cost of construction nor a date for expected completion has been announced.<\/p>\n

Sizewell C was originally an EDF Energy project but is now majority-owned by the British government, with EDF Energy a minority shareholder.<\/p>\n

EDF Energy is the British arm of \u00c9lectricit\u00e9 de France (EDF), which is wholly owned by the French state.<\/strong><\/p>\n

The UK government\u2019s stake was 83.8 percent and EDF\u2019s stake was 16.2 percent at the end of December, EDF\u2019s financial results<\/a> showed in February.<\/p>\n

Sizewell C would be just the second new nuclear plant built in Britain in more than 20 years<\/strong>, after another EDF project, Hinkley Point C, which was first announced in 2010.<\/p>\n

Hinkley Point C, based in Somerset, southwest England, has been beleaguered by delays and budget overruns<\/a> and is currently expected to come online in 2029.<\/p>\n

Sizewell C would be the third power station built on the site after Sizewell A and Sizewell B, both of which are currently in the process of being decommissioned.<\/p>\n

The Department for Energy Security and Net Zero also announced<\/a>\u00a0that it had picked\u00a0Rolls-Royce\u00a0SMR to build Britain\u2019s first small modular reactors (SMRs).<\/strong><\/p>\n

About 2.5 billion pounds ($3.4 billion) of government funds will be dedicated to the SMR program over the next four years, in a bid to get one of Europe\u2019s first small-scale nuclear industries going.<\/p>\n

SMRs are usually around the size of two football fields and composed of parts that can be assembled in a factory, making them quicker and cheaper to build than conventional plants.<\/p>\n

The moves by Britain come amid a renewed interest<\/a> in nuclear power across Europe, sparked by spiraling energy costs due to the ongoing war between Russia and Ukraine, which is hampering the continent\u2019s supply of natural gas.<\/p>\n

European Commission President Ursula von der Leyen said in a keynote speech<\/a> in August 2024 that the European Union needed more nuclear power.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 06\/11\/2025 – 03:30<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/uk-announces-193-billion-funding-new-nuclear-power-project<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

UK Announces $19.3 Billion Funding For New Nuclear Power Project Weeks after Germany decided to reverse course and ‘re-embrace’ nuclear power following their supreme idiocy…<\/p>\n","protected":false},"author":0,"featured_media":1541076,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1541075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1541075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1541075"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1541075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1541076"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1541075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1541075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1541075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}