Sizewell C has reached financial close.
The company said that following the successful conclusion of the equity raise and a Final Investment Decision in July 2025, it has confirmed £5 billion of debt raised through the BpifranceAE export credit facility, (sitting alongside the National Wealth Fund’s loan and £500 million Working Capital Facility). The debt raise was supported by 13 banks – ABN Amro Bank, Banco Bilbao Vizcaya Argentaria (BBVA), Santander CIB, BNP Paribas, Crédit Agricole Corporate and Investment Bank, CaixaBank, Citibank, Crédit Industriel et Commercial (CIC), HSBC Bank, Lloyds Bank, National Westminster Bank, Natixis and Societe Generale – and a subset of them are providing the Working Capital Facility.
Sizewell C is financed using the Regulated Asset Base (RAB) model. The debt facility has been achieved following Investment Grade credit ratings from Moody’s, S&P and Fitch.
Sizewell C said funding had now begun to flow and the start of full-scale construction.
Clifford Chance acted as legal adviser, Rothschild & Co acted as lead financial adviser across equity, debt and credit ratings, and BNP Paribas acted as joint debt financial adviser to Sizewell C on the capital raise. HSBC acted as French Authorities and Green Loan Coordinator, alongside Santander CIB as Documentation Coordinator on the £5 billion export credit backed facility.