Sizewell C Nuclear Project Secures Landmark Investment

Orrick, a prominent law firm, has provided crucial legal advice to the Nuclear Liabilities Financing Assurance Board (NLFAB) concerning the Sizewell C nuclear power project, which has recently received the UK Government's Final Investment Decision. This 38 billion undertaking marks a significant infrastructure initiative aimed at delivering clean energy to six million households, reinforcing the UK's energy security and net zero objectives. The NLFAB, established by the Department for Energy Security and Net Zero, serves to provide independent advice on the funding arrangements plan (FAP) linked to the Sizewell C project's funded decommissioning programme (FDP). Orrick's role was pivotal in advising NLFAB on aspects of the FAP, including terms of legislative, regulatory, and contractual agreements relevant to the Economic Licence of Sizewell C. This intensive scrutiny ensured transparent and robust funding agreements, playing a critical role in the official approval of the FDP, which has propelled the government's significant investment decision, thus enabling mobilization of both public and private funds, supporting up to 10,000 jobs during peak construction.