07
Nov
Keynote presentation: UK Nuclear Power - An update from Sizewell C
Processes are underway to fund the development and construction of two large nuclear plants in the UK, Sizewell C and Hinkley Point C. As nuclear power generation comes to the forefront in UK's net zero ambitions, what are the financial and regulatory structures underpinning nuclear projects, and how attractive are they to infrastructure investors?
In this keynote presentation Joe Rippon, Head of Financial Structuring, from Sizewell C will discuss:
- What are the revenue streams underpinning UK nuclear projects and what kind of returns can investors expect to receive?
- How similar is the new financial structure for nuclear to previous infrastructure projects such as the Thames Tideway Tunnel?
- What benefits came from switching from a CfD to a RAB-based model? Are they enough to attract infrastructure investors?
- What comfort is being offered to debt and equity investors around the management of the projects’ various construction, technical, political, and financial risks?
- Is there a further pipeline of investable nuclear projects shaping up? What lessons are being learned from Hinkley and Sizewell that can be applied to the next projects?
- Can the UK’s nuclear financing structures be a model for the rest of Europe?
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SpeakersJoe Rippon Head of Financial Structuring Sizewell C
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Joe Rippon has been with the Sizewell C project for over five years where he is Head of Financial Structuring and works on a number of key aspects of the funding and financing arrangements. This includes leading the development of a novel approach to meeting the new nuclear financing challenge – the Regulated Asset Base model. This funding model and investor proposition it entails will allow Sizewell C to bring new types of investors into a nuclear construction project for the first time and support the project’s ability to raise the equity and debt capital it requires to fund construction. Joe is heavily involved in other aspects of the financing arrangements including engagement with credit rating agencies, potential investors and export credit arrangements. Here he brings together the revenue arrangements, financial structure and strengths of the project to promote the project with the financial community.