This project, which is strategic for the French nuclear sector and the Franco-British bilateral relationship, will benefit from a £5 billion loan guarantee (approximately €5.68 billion) provided by the French Government through Bpifrance Assurance Export, acting on behalf of and under the control of the State.

The French Government today announces a £5 billion loan guarantee (approximately €5.68 billion) to finance EDF Group’s commercial contracts (EDF, Edvance, Framatome, Arabelle Solutions). This mechanism—implemented by Bpifrance Assurance Export—will guarantee loans granted by a pool of commercial banks and SFIL to Sizewell C to finance French companies’ export contracts. These banks will be covered up to £4.7 billion (approximately €5.34 billion) against risks such as default, insolvency, political risk, natural disasters, and non-transfer. This guarantee marks a significant step in strengthening economic and industrial ties between France and the United Kingdom while supporting the excellence of the French nuclear industry.

An Ambitious Project for Decarbonization

The Sizewell C project is a concrete example of Franco-British collaboration in decarbonizing electricity production and illustrates the strength of the strategic partnership in the civil nuclear sector between our two countries. By supporting this project, France actively contributes to the energy transition and the reduction of greenhouse gas emissions in the UK. The Sizewell C nuclear power plant, with a capacity of 3.2 GW, is a major component of the UK’s energy policy, which aims to increase the share of nuclear power in the electricity mix to 25% by 2050.

Supporting French Industry Excellence

This financing also demonstrates the State’s support for the French nuclear industry. The Sizewell C plant will significantly help maintain workloads at French industrial sites and generate more than €6 billion in direct economic benefits in France—not counting indirect benefits for numerous French mid-sized companies (ETIs) and SMEs. EDF/Edvance, Framatome, and Arabelle Solutions are recognized for their know-how and expertise. This project offers them a unique opportunity to showcase their excellence internationally while reinforcing their leadership in the nuclear energy sector.

A Strategic Collaboration Between France and the United Kingdom

This project strengthens economic and industrial ties between France and the UK. It illustrates the ability of both nations to collaborate on large-scale projects, contributing to energy security and the fight against climate change. The UK Government, as a partner, also supports this operation, thereby consolidating bilateral relations between the two countries.

Financing Structured by Leading Institutions

Bpifrance Assurance Export, by guaranteeing this structured financing arranged in collaboration with a pool of 13 leading banks (HSBC, ABN AMRO BANK N.V., Banco Bilbao Vizcaya Argentaria S.A., BNP Paribas, Crédit Agricole Corporate and Investment Bank, CaixaBank S.A, Crédit Industriel et Commercial, Citibank, Lloyds Bank, Natixis, National Westminster Bank, Banco Santander, Société Générale), demonstrates the confidence of economic stakeholders in the success of this project and its positive impact on the territories concerned. SFIL will soon intervene alongside the 13 commercial banks involved in this project and will become the main lender.

“This project illustrates the strength of the Franco-British strategic partnership in civil nuclear energy. By supporting it, the State promotes the exports of a French industry of excellence and the companies, including mid-sized firms and SMEs, that make it up. This project will also contribute to energy autonomy and the decarbonization of electricity production for our British partner.”

— Roland Lescure, Minister of Economy, Finance, and Industrial, Energy, and Digital Sovereignty.

“This project is tangible proof of our commitment to supporting French industry internationally and strengthening ties with our international partners such as the United Kingdom. Sizewell C marks an important step in the energy transition, and we are proud to contribute to this major initiative.”

— Denis Le Fers, CEO of Bpifrance Assurance Export.