nuclear-news

Apollo to finance UK Hinkley Point nuclear plant with £4.5bn loan.

Funding for electricity group EDF, the UK’s largest ever private credit
deal, eases pressure on the troubled project. US private capital group
Apollo will provide £4.5bn in debt financing to support the UK’s Hinkley
Point C nuclear power station, easing mounting financial pressure on the
delayed and over-budget project. The investment-grade package will be
provided as unsecured debt at an interest rate just below 7 per cent,
according to people familiar with the matter. EDF, which is building two
new nuclear reactors at the site in Somerset, said it will be able to
borrow £1.5bn each year over three years as part of the package. The debt
has a maximum maturity of 12 years. The debt package addresses a
significant gap in the finances of the project, which has struggled with a
shortfall since China General Nuclear Power Group (CGN), which was supposed
to provide a third of the cost of the project, stopped providing further
financing in 2023.

 FT 20th June 2025, https://www.ft.com/content/d4e6b540-ae57-434f-9eea-9d96431980e9

June 21, 2025 - Posted by Christina Macpherson | business and costs, UK