"Linklaters Advises UK Government on Sizewell C Nuclear Project, Achieving Financial Close and Advancing Energy Security Goals"

"Linklaters has successfully advised the UK Government on achieving financial close for the Sizewell C nuclear project, marking a significant step in advancing domestic energy security and supporting the UK's net zero goals. The firm played a key role in developing the regulated asset base (RAB) model, attracting private investment, structuring debt financing, and addressing regulatory and construction concerns. This milestone highlights the growing importance of nuclear energy in Europe's energy transition and demonstrates the effectiveness of the RAB model in delivering major infrastructure projects."

Linklaters advised the UK Government, specifically the Department for Energy Security and Net Zero (DESNZ), on the Sizewell C nuclear energy project, achieving financial close. The transaction involved collaboration with Centrica, Amber Infrastructure, La Caisse, EDF, and the UK Government, which will hold an initial 44.9% stake in the project. The transaction marks a significant milestone for the UK nuclear sector and energy security, as Sizewell C will deliver reliable, low-carbon electricity while supporting the UK’s net zero ambitions. Linklaters provided legal counsel on various aspects, including the development of the regulated asset base (RAB) model, equity raise processes, debt financing, and construction and supply chain arrangements. The financing structure includes £5 billion of debt raised through a BpifranceAE export credit facility, a £500 million Working Capital Facility, and a £36 billion term loan facility from the National Wealth Fund. The Linklaters team was led by Energy & Infrastructure Partner Charlotte L Morgan, alongside Partners Maryam Adamji and Stephen Le Vesconte. Counsel Rasha Sami and Gitanjali Shankar also contributed, with support from Managing Associates Karen Clarke, Imogen Ormerod, and Jamie McPhie.

"Linklaters Advises UK Government on Sizewell C Nuclear Project, Achieving Financial Close and Advancing Energy Security Goals"

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