The Sizewell C consortium, a collection of more than 200 construction and nuclear firms from across the country, has pledged around £4.4 billion (€5.1 billion) worth of investments in the East of England region, including £2 billion for Suffolk alone.
An artists' representation of the completed Sizewell C project. Credit: EDF Energy
A memorandum of understanding was signed on Wednesday, which indicated long-term opportunities for British business and research commissioned by the consortium hinted that as many as 73,000 jobs could be supported in the region should Sizewell C be given the go-ahead.
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The agreement outlines the potential investment for the East of England during the construction phase of the project, which is expected to last around a decade.
The UK government is currently in talks with EDF regarding the building of Sizewell C and has committed to taking one new nuclear power station to a final investment decision by the end of the parliament.
The MoU pledges to create long-term opportunities for suppliers from the East of England, based on a pipeline of development from Sizewell C to potential future nuclear projects in areas such as Moorside, supposedly allowing confidence to invest and grow.
The project will also aim to boost international opportunities for the nuclear supply chain in the East of England and would partner with the newly-announced "Freeport" of Felixtowe and Harwich to create a hydrogen hub.
The project's leaders also claim the firms will work alongside local higher learning centres in the region to allow for opportunities for younger people in order to meet the demand for 30,000 new jobs by the end of the decade.
Cameron Gilmour, a spokesperson for the consortium, said the MoU demonstrated the potential for jobs and investment which can spur economic growth in the area, as well as playing an essential role in the transition to net-zero.
He added: "This project will be essential in levelling up and ensuring that the East of England is not left behind in the green recovery.
"For these benefits to be realised, we need a firm commitment to getting Sizewell C built by working closely with Government and consulting with local stakeholders to secure approval for the project."
Peter Aldous, the MP for Waveney said the transition towards net-zero offers an enormous opportunity for East Anglia, both in the short and long-term.
"Building Sizewell C is a vitally important component part of this transformation. Local people must have the opportunity to acquire skills, to work on the construction of the nuclear power station and then to either work there once it has been commissioned or to transfer their skills to other sectors. This can make our area a compelling location in which to set up and grow businesses," he added.
Sizewell C has been met with stiff opposition since the idea was first proposed.
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Critics believe a number of aspects of Sizewell C's construction - from jobs to economic viability - have been fabricated.
Pete Wilkinson, the secretary for Together Against Sizewell C, an NGO in opposition to the project, has warned the project is not particularly environmentally viable.
"It has been demonstrated that meeting our climate, cost and generation requirements, nuclear is not the answer. There is no evidence to suggest the plant will have any effect on our carbon emissions and the project itself will not be effective in battling climate change for the immediate future.
"Fighting the climate crisis requires swift and drastic action. Construction on Sizewell C may take up to 12 years to complete, which means its viability in the short-term is questionable. You should not use older technologies which take a dozen years to deploy to deal with a climate crisis which we have a few decades to avert."
Wilkinson also went into details about potential environmental issues associated with the project.
"The plant itself is too small and is being built on an eroding coast and is surrounded by Areas of Outstanding Beauty and may turn what is currently tranquil countryside into an industrial centre," he said.
Sizewell C does not currently have an Acoustic Fish Deterrent in place, which could have consequences for local populations.
Wilkinson added: "We reckon that between 2035 and 2055 - which is the timeframe for which Sizewell B and C will be operating together - there will be about 28 million fish entrained into the cooling systems for the plants."
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The East of England already has strong ties to the nuclear sector, with the previous two Sizewell reactors being located near the planned site for Sizewell C.
The development of the new plant will be based on the cancelled Hinkley Point C design and will allow it to tap into the existing supply chain.
A Development Consent Order has been submitted to the UK Government for Sizewell C which is currently being examined by the Planning Inspectorate.
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