Apollo Global Management is set to provide up to £4.5 billion ($6.1 billion) in financing for the Hinkley Point C nuclear power plant in the UK, supporting EDF as the project's costs have risen to approximately £47.9 billion. This private loan deal represents one of the largest UK private credit arrangements to date and aims to bridge a financing gap amid delays and cost overruns. Separately, the UK government has secured a £7.5 billion ($10 billion) investment from Japan's Sumitomo Corporation to fund clean energy infrastructure, including offshore wind and hydrogen projects, over the next decade. In related developments, Centrica is in advanced discussions to acquire a 15% stake in the Sizewell C nuclear power project, while EDF will hold a 12.5% stake. Canadian firm Brookfield Corporation is expected to take a 20% stake. The UK government has given final approval for the £38 billion ($51 billion) Sizewell C project, which is critical to the country's energy and climate objectives, following investment commitments from British and international investors, including Canadian pension fund La Caisse.
Britain gave the final go-ahead for the $51 billion Sizewell C nuclear plant in eastern England after it secured investment from British and international investors including Canadian pension fund La Caisse https://t.co/LHE4xKT2Wv
UK inks investment deals on £38 billion Sizewell C nuclear plant https://t.co/hc5dPOK3hL via @MathisWilliam https://t.co/mweKsap2pV
#UK Inks Investment Deals on £38 Billion Sizewell C Nuclear Plant https://t.co/gIbmoRaAKu