Centrica Preparing To Take 15% Stake In Sizewell C Nuclear Plant, Reports Say

British Gas owner Centrica is preparing to take a 15% stake in the UK’s new nuclear power plant Sizewell C, reports have said.

The boss of the Windsor-based energy group earlier this year said he was “hopeful” of striking a deal to invest in the facility.

The investment would mean Centrica has about the same size stake in Sizewell C as French energy giant EDF, the Financial Times reported on Friday.

EDF, which owns and runs Britain’s nuclear facilities, and the Government were the first backers of the project.

But they have been trying to raise billions more from prospective investors, including Centrica.

A spokeswoman for Centrica said it would not comment on speculation about acquisitions or investment.

In February, chief executive Chris O’Shea said the group was in discussions over injecting cash in the new Suffolk-based nuclear plant, with aims to secure a deal in the first half of this year.

He said: “I like nuclear. I’m really hopeful we can make progress with Sizewell C this year.”

But he said it “all depends on the overall cost of the project and returns”.

Mr O’Shea declined to give details on the size of stake Centrica was looking to take in the group, except to say it would be “between 1% or 2% and 50%”.

Chancellor Rachel Reeves earlier this month said £14.2 billion will be invested to build the power plant, marking the end of a long journey to secure funding for the project since it was first earmarked in 2010.

Sizewell C will power the equivalent of six million homes and is planned to be operation in the 2030s, and is expected to create 10,000 jobs, the Government said.

The Financial Times reported that all sides were hopeful of reaching a final investment decision on the project before Parliament breaks for recess on July 21, citing sources familiar with the discussions.