Sir Keir Starmer is set to formally approve a nuclear power plant that can provide enough energy for six million homes along with a new generation of mini reactors.

The prime minister will give the green light for investment in the construction of Sizewell C in Suffolk before the spending review in June. It will provide up to 7% of the UK’s energy by the time that construction is completed in 2035 at an estimated cost of £20 billion.

Britain’s five nuclear power stations, which generate about six gigawatts (GW) in total, powering 13 million homes, are all nearing the end of their lives. Sizewell C will be the second nuclear power plant approved in recent years after Hinkley Point C was given the go-ahead in Somerset.

Sizewell C has been awaiting the outcome of a “final investment decision”. A senior government source told The Times that approval was a “formality” given that the government has already committed £6 billion to the project. The level of private investment remains unclear.

The Prime Minister reportedly wants to combine approval of Sizewell C with an announcement on a new generation of mini nuclear reactors.

Rolls-Royce could benefit from the nuclear boost as was one of four companies shortlisted last year by the government to develop small nuclear modular reactors (SMRs).

SMRs do not need to be built on the coast like conventional reactors, opening the opportunity for more on potential sites.

John Fingleton has been appointed as the lead for the Prime Minister’s Nuclear Regulatory Taskforce to speed up new nuclear plants and deliver a "nuclear renaissance" as part of the government’s plan for change.

Energy Secretary Ed Miliband said: “Our Plan for Change and clean energy mission means it is time to build, build, build – it is time for a nuclear renaissance in this country, and that can only happen if we move further and faster to break down the barriers.

“John is equipped with the right experience to drive this review with the urgency required to deliver on our nuclear ambitions.”