The Sizewell C project in Suffolk will be jointly funded by Canadian pension fund La Caisse, UK energy firm Centrica and Amber Infrastructure.
The Department for Energy Security & Net Zero (DESNZ) said Sizewell C will deliver clean power for the equivalent of six million homes, as well as support 10,000 jobs and create 1,500 apprenticeships once it is operational.
The government will be the largest shareholder in the project with a 44.9% stake. La Caisse will hold a 20% stake, Centrica 15% and Amber Infrastructure will take an initial 7.6%.
Earlier this month, French energy giant EDF announced it was taking a 12.5% stake, lower than its previously stated 16.2% ownership.
Energy Secretary Ed Miliband said: “It is time to do big things and build big projects in this country again – and today we announce an investment that will provide clean, homegrown power to millions of homes for generations to come.
“This government is making the investment needed to deliver a new golden age of nuclear, so we can end delays and free us from the ravages of the global fossil fuel markets to bring bills down for good.”
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