UK Moves Closer to Approving Sizewell C Nuclear Plant Project

The UK government moved a step closer to approving the construction of two nuclear reactors in Sizewell after reaching a deal with French authorities over the involvement of Electricite de France SA.

Under the agreement reached over the weekend, the French state-owned owned utility — which is already building a pair of reactors in Hinkley Point in the UK — will retain a stake in the Sizewell C project of just 12.5% while the UK government and other investors will hold the rest, people with direct knowledge of the matter said.