CIC, acting as a co-arranger, is thrilled to support the UK government, La Caisse, Centrica, EDF and Amber Infrastructure Group in the financing of the Sizewell C nuclear power plant project in Suffolk, United Kingdom.
With an installed capacity of 3.2GW, Sizewell C nuclear power plant will generate low-carbon electricity to power approximately six million homes for at least 60 years. The project will play a critical role in replacing aging fossil fuel-based power plants, helping the UK to achieve its legally binding target of net zero greenhouse gas emissions by 2050.
The project will benefit from a Regulated Asset Base (RAB) funding model, which ensures investors with long-term predictability and that consumers receive value over an extended period. In addition to the strong support of the UK government to the project, the ECA facility is backed by Bpifrance Assurance Export enhancing the credit profile of the transaction.
CIC’s involvement in this financing reflects its strategy to support energy transition projects that deliver both environmental and economic benefits.