The government will pay a Chinese state company £100m to buy out its stake in the Sizewell C nuclear plant.
Ministers confirmed that they were making a payment to China General Nuclear to secure its exit as part of an “historic” £679m investment in the Suffolk plant. Sources said it was in the region of £100m, reflecting CGN’s investment in the project.
CGN had a 20% stake under a deal struck in 2015 when David Cameron, then the prime minister, and China president Xi Jinping hailed a “golden era” of relations. Prime minister Rishi Sunak said yesterday that the golden era was “over”.
