Sweden Returns to Nuclear Power After 40-Year Hiatus: Deal with Rolls-Royce

The Swedish government has taken a major step to ensure the country's energy security and meet growing demand. The national energy company Vattenfall has selected the British firm Rolls-Royce SMR as the partner to supply small modular reactors (SMR) as part of a new nuclear program. This decision ends Sweden's tradition of not building new nuclear capacities for nearly 40 years. This is reported by Ixbt.com news reports.

In the selection process for this strategic project, Rolls-Royce beat out the American company GE Vernova. Initial plans involved a choice between five BWRX-300 reactors developed by GE Vernova or three reactors of the Rolls-Royce SMR model. Ultimately, the British engineers' technology was deemed preferable, and the contract value is expected to reach several billion pounds sterling.

Swedish Energy Minister Ebba Busch emphasized that the agreement with Rolls-Royce will be a significant milestone in developing a new generation of nuclear power in the country. The ministry expressed confidence that this project will help lower electricity prices for consumers in the long run. Last year, the country's parliament approved the legislative framework necessary to finance new reactors.

Energy independence and economic efficiency

According to Vattenfall, each of the three reactors supplied by Rolls-Royce will have a capacity of 470 MW. Together, they will be capable of producing a total of 12 TWh of electricity per year. According to Rolls-Royce specialists' calculations, this power is sufficient to cover approximately 6 percent of Sweden's annual electricity consumption.

The new nuclear facilities are planned to be located at the existing Ringhals nuclear power plant site in the southwest of the country. Videberg Kraft will be responsible for implementing the project. 80 percent of this company is owned by the state-owned Vattenfall, while the remaining 20 percent is controlled by a consortium of Sweden's largest industrial giants.

According to government forecasts, electricity demand in Sweden could double by 2045. Therefore, the state is prepared to allocate hundreds of billions of Swedish kronor to develop the nuclear sector. The first modular reactor is expected to be commissioned in the mid-2030s, after completing all licensing and permitting processes.

As ixbt.com writes, this contract has become one of the largest international projects for Rolls-Royce in the small modular reactor segment. Such technologies are distinguished by faster construction times and higher safety levels compared to traditional large NPPs, which is crucial for countries like Sweden that strictly adhere to environmental standards.