In July this year, the UK Government signed the final investment decision for Sizewell C, the first majority British-owned nuclear power station in over three decades and the largest clean energy project in a generation. The 3.2GW power plant, located in Suffolk, is key for the UK’s energy security as it will, upon completion, reliably supply 7% of the country’s electricity, enough for six million homes, and is projected to save £2bn annually on future low-carbon energy costs, leading to cheaper power for consumers.

Sizewell C will provide 10,000 people with employment at peak construction and support thousands more jobs across the UK, including 1,500 apprenticeships. The company has already signed £330m in contracts with local companies, with 70% of contracts predicted to go to 3,500 British suppliers – supporting new jobs in construction, welding, and hospitality.

The nuclear power station is the first in the UK that will be funded through a Regulated Asset Base (RAB) model. Under the model, consumers are protected through independent regulation, strict cost controls, and transparent oversight – ensuring full benefits from secure, low-carbon energy without bearing the risk of cost overruns.

The UK government is holding a 44.9% stake in Sizewell C alongside shareholders La Caisse, Centrica, EDF, and Amber Infrastructure. 

Seeking £5.5bn funding from commercial banks through a £5bn term loan – backed by Bpifrance Assurance Export, France’s export credit agency – as well as a £500m working capital facility, Sizewell C approached NatWest due to our expertise in financing large energy projects. We are ranked as the leading lender for infrastructure financing in the UK over the last 5 years, reflecting our ability to deliver certainty and scale for projects of national importance [1].

Julia Pyke and Nigel Cann, Joint-Managing Directors of Sizewell C, said: “We are very pleased to have secured this financing package from our lenders. By funding Sizewell C, they are laying the foundations for a more secure, cleaner and more affordable energy system while also helping create over 10,000 jobs, secure Britain’s energy future and revitalise the UK’s nuclear industry.”

Bruce Riley, Managing Director, Head of Energy Transition at NatWest, commented: “We’re delighted to help deliver this landmark nuclear power plant. At NatWest we have set out a clear ambition to play a key role in helping to address the climate challenge, an important part of which is developing financing structures and providing funding for projects such as Sizewell C. Our participation in this financing is also another example of NatWest’s commitment to provide £200bn Climate and Transition Finance to our customers by the end of 2030.”

Source:
[1]: League Table ranking sourced from Infralogic 2020-2025 cumulative league table