The government and Sizewell C Limited have opened a pre-qualification process for potential investors – the first stage of a planned equity raise process for the proposed new nuclear project adjacent to Sizewell B. It is hoping to find co-investors who have experience of other large-scale nuclear or other complex energy or infrastructure projects.
The government says it wants investment from organisations “able to take a meaningful stake in the company,” to ensuring are able to have “a substantial and positive influence on delivery” over the construction period. The investors will be expected to monitor and intervene in delivery because they will be meaningfully exposed to incentives.
The government also says private sector investors must “bring sufficient benefits to the company to justify their involvement” – significant experience in the delivery of major infrastructure projects, especially in large-scale nuclear or other complex energy or infrastructure projects. This would mean the project will benefit from expertise in project risk management, cost control and instilling projects with a culture of commercial focus.
Finally the government says it will “only accept private investment if it is likely to result in value for money. This approach will be assessed and considered over the coming months, and the government will take the time needed to reach a deal which satisfies this objective”.
investors who have been successful in the pre-qualification phase shall be invited to participate in the bidding process for the Sizewell C equity raise.