The proposed Sizewell C nuclear power plant is a "fantastic economic opportunity" which will create 10,000 jobs, a Government minister said on a visit to the Suffolk site today.

Business and Energy Secretary Kwasi Kwarteng was speaking as he signed a £100million government funding deal to help the project - which still requires planning permission - to move forward.

He said: “Clearly in a world of high energy prices, with what’s going on in Russia and the Ukraine, I think there is a real focus on having stable, low carbon security of energy supply and the nuclear energy industry in which we’ve excelled in in the past is very much past of that future.”

Mr Kwarteng, who was greeted at the entrance to the site by a group of protesters, said: “There are voices in opposition, but broadly it’s a fantastic economic opportunity.

“We’re talking about 10,000 jobs and they’re not just any jobs, they’re highly-skilled highly-paid jobs which I know people in this county, in the coastal area places like Lowestoft, people are very excited about this economic opportunity and they see that not only as a challenge but as an exciting development.

East Anglian Daily Times: Business Minister Kwasi Kwarteng visited Sizewell C to announce £100m funding for Britain's next nuclear power plant to be built on the Suffolk coast. TV crews pictured during the visit.Business Minister Kwasi Kwarteng visited Sizewell C to announce £100m funding for Britain's next nuclear power plant to be built on the Suffolk coast. TV crews pictured during the visit. (Image: Archant)

Today’s funding announcement and visit is a symbolic important step forward for the Sizewell C project as well as putting cash on the table.

The £100m funding should prime the pump for further private investors to get involved under a new funding model which will be allowed under a Bill currently going through Parliament.

Mr Kwarteng said: “I think there is a huge interest actually across global investors in getting secure affordable low carbon sources of energy.”

That size of sum will as Mr Kwarteng said aim to “maximise investor confidence in this nationally significant project.”

He said the project would continue the local expertise in nuclear energy.

“Of course we’ve got Sizewell B which started in 1995 which was 27 years ago and it’s got another 14 years I think. So there is a real tradition here of nuclear expertise. I’ve spoken to apprentices and they’re very enthused about their careers in the nuclear industry.

“And what Sizewell C does is that it actually prolongs and deeply embeds that skill here in the local area.”

East Anglian Daily Times: Protestors wait outside Sizewell C as Business Minister Kwasi Kwarteng announces £100 million in funding.Protestors wait outside Sizewell C as Business Minister Kwasi Kwarteng announces £100 million in funding. (Image: Archant)

Today‘s agreement also aims to provide guarantees that, if for any reason, the Sizewell C new nuclear plant development does not go ahead the site will still be used for a significant energy project.

It is part of up to £1.7bn of direct government funding made available for developing a large scale nuclear project to the point of final investment decision.

Government ministers have made a commitment to reach that final investment decision on funding at least one new nuclear plant in the course of this Parliament.

At this point that is not certain to be Sizewell C, and it is not certain to go ahead but today has seen the project advance a significant step.