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LONDON - British energy company Centrica plc has completed its acquisition of a 15% equity stake in the Sizewell C nuclear power project following financial close and revenue commencement, according to a press release statement issued Tuesday.
The initial investment amounts to £376 million, which includes funding for the regulated asset base value accumulated before financial close and pre-funding a portion of 2026 construction costs. Centrica expects to invest between £500-600 million in total through the end of 2028, as part of its capped £1.3 billion investment commitment.
Sizewell C represents a significant addition to Britain’s future energy infrastructure as a nuclear power generation facility. The project aims to provide zero-carbon electricity generation capacity to the UK’s energy grid.
"Sizewell C will be at the heart of Britain’s energy future - delivering reliable, affordable, zero-carbon power that fuels economic growth for decades to come," said Chris O’Shea, Group Chief Executive of Centrica.
The investment follows Centrica’s strategy of expanding its presence in key UK energy infrastructure projects, which also includes interests in Grain LNG terminal and a partnership with X-energy.
The Sizewell C project is expected to create numerous jobs and contribute to the UK’s energy security and decarbonization goals, according to the company statement.
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