The Suffolk-based plant becomes the first nuclear project in the world to be financed with private investors under the UK’s Regulated Asset Base (RAB) model — a system proven in major infrastructure projects like Heathrow Terminal 5 and the Thames Tideway Tunnel.
The deal secures £5 billion in debt through a BpifranceAE export credit facility, supported by global banking heavyweights including HSBC, BNP Paribas, Lloyds, Santander and Crédit Agricole.
A further £500 million working capital facility and backing from the National Wealth Fund complete the financial package.
It’s a landmark moment that moves Sizewell C from planning to delivery.
Once operational, the station will power six million homes for at least 60 years and could save the electricity system £2 billion a year by cutting dependence on imported gas.
The project, majority-owned by British investors, is also expected to generate more than 10,000 skilled jobs and 1,500 apprenticeships, with 70% of contract value going to UK businesses.
Sizewell C’s financing was underpinned by investment-grade credit ratings from Moody’s, S&P and Fitch. Strong confidence from the financial sector reflects lessons learned from Hinkley Point C, which has informed both cost and risk management.
Joint-Managing Directors Julia Pyke and Nigel Cann hailed the milestone: “Sizewell C is a transformative project for Britain’s energy future, delivering reliable low-carbon power, tens of thousands of jobs and a major boost to the UK economy.”
They added that the RAB structure “works for both consumers and private investors and has attracted considerable interest from other countries developing nuclear power.”
Energy Secretary Ed Miliband called it “a major milestone in delivering our new golden age of nuclear, with private investment starting to flow into Sizewell C.”
He said backing nuclear “creates thousands of high-quality jobs, supports British supply chains and keeps the lights on with homegrown energy for generations to come.”
The £5 billion BpifranceAE loan is classed as a green facility under Sizewell C’s financing framework, earning a Medium Green rating from S&P Global. It will be refinanced through French lender Sfil.
This financing breakthrough turns decades of ambition into action.
For the first time, private capital is helping to build the backbone of Britain’s future energy system — low-carbon, long-term and firmly homegrown.
