georgemiller
Publish Date: Fri, 27 Jun 2025, 05:08 AM

June 27 (Reuters) - British Gas owner Centrica (CNA.L) , opens new tab is set to take a 15% stake in the country's Sizewell C nuclear project in southeast England, the Financial Times reported on Friday, citing people familiar with the discussions.
All sides are keen to reach a final investment decision on the project before the British parliament's recess on July 21, the report said.
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Reuters could not immediately confirm the report.
The government said earlier in June that it will invest a further 14.2 billion pounds ($19.25 billion) to build the Sizewell C nuclear plant, taking its total commitment to the project to 17.8 billion pounds.
Britain is looking to build new nuclear plants to replace its ageing fleet to boost its energy security, reach its climate targets and create new jobs.
Canada's Brookfield Asset Management (BAM.TO) , opens new tab is still in talks about an investment in Sizewell C and could be prepared to take a larger stake than Centrica, the Financial Times report said.
Sizewell C was originally being developed by France's EDF and China's General Nuclear Power Group but the government bought out the Chinese firm's stake in 2022 amid security concerns.
The UK government's stake was 83.8% and EDF's stake was 16.2% at the end of December, EDF's financial results showed in February. EDF's stake is expected to decrease following Britain's investment earlier this month.
Centrica, Sizewell C and Brookfield Asset Management did not immediately respond to a request for comment outside regular business hours.
($1 = 0.7281 pounds)
https://www.reuters.com/business/energy/britains-centrica-set-take-15-stake-sizewell-c-nuclear-project-ft-reports-2025-06-27/