The UK government has announced that it will invest billions in the new Sizewell C nuclear power plant as it seeks to achieve its net-zero emissions and energy security targets.

The £14.2 billion ($19 billion) investment will end “years of delay and uncertainty,” according to a statement from the British Treasury.

The statement also said it would unlock a “golden age” of nuclear energy to “boost the UK's energy security,” AFP reported.

The latest investment is part of Finance Minister Rachel Reeves' budget announcements, who is due to present her spending priorities in detail on June 11, with defense and health at the forefront.

The government also announced that British manufacturer Rolls-Royce had won the competition to become the preferred candidate for the construction of small modular nuclear reactors in the UK.

The aim of the small reactors is to reduce the cost and complexity of building nuclear power plants.

“The UK is returning to where it belongs, taking a leading position in the technologies of the future,” Reeves said.

The government added that it would invest over £2.5 billion in nuclear fusion over five years, calling it a “record investment” in the emerging technology. | BGNES