Investors ‘shun’ Sizewell C nuclear power station project23 Feb 2021 20:31
Legal and General Capital - the investment arm of the financial services company - has said it is not backing French energy firm EDF’s Sizewell C plans, which involve building two new reactors at the site.
Responding to enquiries by The Independent, an L&G spokesperson said: “As we transition to a net zero carbon world, Legal & General Capital is playing an important role in investing in renewable infrastructure and clean technology across low-carbon heat, transport, and power generation.
Hinkley:
The UK government has guaranteed EDF £92.50 for each megawatt hour of electricity produced - a price which will help EDF recoup the rising cost of the project, but one which is at least twice as high as the cost of wind-generated power, offering poor value to consumers.
Wind power generation cost as low as £44 per megawatt hour at auction last year.
L&G’s boss Nigel Wilson described Hinkley in 2016 as a “£25bn waste of money”.
He told BBC 5 live: “The world is moving towards clean green and cheap energy. Solar, wind will play a much more important role. Hinkley is probably the most expensive energy we can think of right across Europe. That’s really bad for society.”
Well done L&G !!
https://www.independent.co.uk/climate-change/news/sizewell-nuclear-power-station-environment-suffolk-b1805631.html