EDF to Invest £1.1 Billion in UK Sizewell C Nuclear Project

Electricite de France SA will invest £1.1 billion ($1.5 billion) to help build two reactors at the UK’s Sizewell nuclear power plant.

The French state-owned utility — which also is building another pair of reactors in southwest England — will have a 12.5% stake in the Sizewell C project, according to a statement from the French presidency Tuesday, confirming a Bloomberg News report. It’s a major step forward for an effort considered crucial to Britain’s plan to drive investment in low-carbon electricity supply to cut emissions and boost economic growth.