Developer: Five investors bid for UK Sizewell C nuclear stake in the bidding process

The project developer said on Thursday that five investors were involved in the bid to buy stakes in Sizewell C, the nuclear plant being constructed in Britain by EDF and the British government.

The Labour Party in Britain has stated that nuclear plants are important to help the country achieve its climate goals and decarbonise their electricity sector.

The project is looking for investors to invest in the Sizewell-C nuclear plant. It hopes to make a decision on the financial investment next year.

Nigel Cann said, Sizewell C's managing director, "We are in talks with five potential investors." This was on the sidelines an industry event.

He said that the potential investors were divided between traditional financial investors and pension funds, as well as industry.

The government announced earlier this year that it would contribute 5.5 billion pounds (7 billion dollars) towards the development of the plant.

The plant would be the second nuclear power plant in Britain built in over two decades after EDF Hinkley Point C. This plant has been delayed and costs have increased.

Cann stated that lessons learned from Hinkley meant Sizewell C could be built faster and cheaper than its predecessor, and it would be operational by the 2030s.

(source: Reuters)