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Sweden Backs New Nuclear Power with State Ownership
25 Jun
Summary
- Swedish government will own 60% of the Videberg Kraft project.
- New nuclear reactors are planned, the first in over 40 years.
- Rolls-Royce SMR selected to supply small modular reactors.
Sweden is set to construct new nuclear power reactors, with the government agreeing to a substantial financing package and taking a 60% ownership stake in developer Videberg Kraft. This pivotal decision signals a major shift in the nation's energy strategy.
The state's investment means it will become a majority owner in Videberg Kraft, altering the current ownership structure significantly. This initiative represents the first new nuclear reactor construction in Sweden in over forty years.
Parliament previously passed legislation to support this new generation of reactors, crucial for both energy security and achieving ambitious net-zero emissions targets by 2045. In a related development, Rolls-Royce SMR was selected to supply the small modular reactors for the project.
