Businesses in Essex and Suffolk are being encouraged to bid for £500 million worth of contracts as part of the development of Hinkley Point C.
EDF Energy, which is building the new nuclear power plant in partnership with CGN, has identified £500m worth of contracts and is keen for companies in Suffolk and Essex to apply.
Edf Energy, Invest ESSEX, Invest in Suffolk, Suffolk and Essex Chambers of Commerce, and Lloyds Banking Group recently held an event to explain how they can support businesses in bidding for contracts.
As part of the event, Lloyds Banking Group provided further details of its dedicated £100m infrastructure fund to help organisations scale-up to meet the demand.
The fund is designed to provide SME businesses with the financial backing to bid for supply chain contracts. In addition, the bank is working closely with potential suppliers to advise on how best to address skills shortages, improve financial practices and explore the possibility of joint ventures, as a way of securing contracts.
A further two nuclear power stations are set to be developed in Suffolk and Essex in the next ten years, presenting a long-term opportunity for local businesses.
