General Electric said it will receive $1.9 billion for a contract to supply steam turbines, generators and other equipment to the Hinkley Point C project, the United Kingdom's first new nuclear power plant in decades.
By approving Hinkley Point on Thursday, the U.K. government cleared the way for GE to begin building two 1,770-megawatt Arabelle steam turbines and generators capable of powering six million homes and supplying about 7 percent of the U.K.'s power generation needs for 60 years, GE said. They will replace older coal-fired plants, GE said.
The government of British Prime Minister Theresa May approved the controversial 24 billion (18.17 billion pounds) project on Thursday, after putting it on hold in July.
GE had already been doing early engineering work on the project to build one of the largest nuclear plants in the world.
The U.S. industrial company acquired the contract and capability when it purchased the power assets of France's Alstom last year. Alstom won the competition a few years ago, GE said.