Wednesday, 5 October 2011

Middle East sovereign wealth funds 'queue up' to invest in UK nuclear power stations

Sovereign wealth funds from the Middle East and other oil-rich areas are "queuing up" to invest in UK nuclear power, according to Charles Hendry, the energy minister.

Experts have been worried that the UK will find it difficult to attract enough companies willing to fund an estimated £40bn for new nuclear plants.
However, Mr Hendry is no longer concerned about this, since key government ministers have been courting cash-rich foreign funds.

"It's going to be easier to find the funding than it is to find the capacity to build it," Mr Hendry said. "Some of the sovereign wealth funds are keen to invest as a way to diversify. They are showing a very keen interest in British nuclear and queuing up to know more about the opportunities. In the course of our travels we highlighted the opportunities to them."

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