The 50:50 joint venture between Eon UK and RWE npower will have a long-term focus on seeking to secure sites being sold by the Nuclear Decommissioning Agency and taking them through the consents process to building and operating new nuclear power stations.
The joint venture will aim to develop at least 6GW of capacity in the UK and will select reactor technology on a separate basis for each site.
RWE npower chief executive Andrew Duff said: "This joint venture will deliver an early, substantial and vital contribution from nuclear power. At the same time, large infrastructure projects can bring major benefits to the UK economy through jobs, direct investment and supply chain opportunities."
The companies have stakes in 20 nuclear power stations around the world. In addition, E.ON and RWE already jointly own three nuclear reactors in Germany.