Re: Nuclear Fission and Small Modular Reactors (SMRs) News and Discussions
Posted: Sun Apr 23, 2023 6:22 pm
Sounds like the Tories never listen, Nuclear is not green.wjfox wrote: ↑Sun Apr 23, 2023 6:02 pm Pension funds shun Sizewell C in major blow to Britain’s nuclear ambitions
22 April 2023 • 7:00pm
The Government’s push to find investors for the £20bn Sizewell C nuclear power station has suffered a significant blow as Britain’s biggest fund managers have snubbed the scheme.
Jeremy Hunt, the Chancellor, sought to make the project more attractive to green-focused asset managers in his Spring Budget by proposing to give it “sustainable” status under UK financing rules.
Ministers have also reformed the funding model for nuclear plants to hand investors more up-front rewards.
But senior sources in the asset management industry and two of the country’s biggest fund managers have dismissed the changes as irrelevant and insisted it would not persuade them to back Sizewell C.
Nuclear power is seen as vital to Britain’s energy security in the wake of the Ukraine war, with ministers calling for it to generate 25pc of the country’s electricity needs by 2050.
But despite introducing new funding models and classifying it as “green” to attract investors, the Government has struggled to persuade sceptical pension funds and asset managers to get behind Sizewell C.
https://www.telegraph.co.uk/business/20 ... izewell-c/