Kwasi Kwarteng seeks US investment in British nuclear power plants to stop dependence on China
Kwasi Kwarteng seeks US investment in British nuclear power plants to stop dependence on China

Kwasi Kwarteng seeks US investment in British nuclear power plants to stop dependence on China

Sir. Kwarteng and Ms Granholm are also expected to discuss the possibility of the US unloading more liquefied natural gas at British terminals to be exported to Europe through two gas connections as part of plans to reduce the EU’s dependence on energy from Russia.

Ministers hope to raise more than £ 10 billion in private capital to fund new Sizewell C nuclear power plant in Suffolk. The government is expected to take 20 per cent of the shares in the project, with a further 20 per cent to EDF and the last 60 per cent coming from private investors.

A Whitehall source said: “We have become too dependent on a handful of companies to develop new nuclear power. Britain split the atom and built the world’s first full-scale nuclear power plant, but we have fallen so far behind after three decades of operation.

“We want British and American companies to raise money to start our nuclear renaissance. The Business Secretary is committed to working with safe and reliable investors from like-minded countries and hugging them closely.”

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