Published by Global Banking & Finance Review®
Posted on November 10, 2025
2 min readLast updated: January 21, 2026
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Swedish industrial firms are investing in modular nuclear reactors, with Vattenfall planning several at the Ringhals plant, aiming for 12 new reactors by 2045.
By Johan Ahlander
STOCKHOLM (Reuters) -Sweden is closer to building new nuclear reactors than it has been for 40 years, utility Vattenfall's CEO said on Monday, after a group of large industrial firms agreed to invest 400 million Swedish crowns ($42.5 million) into small modular nuclear reactors.
Industrikraft, a group of 17 industrial companies, including SKF, Volvo Group and Volvo Cars, has agreed to make the investment into Videberg Kraft, a company set up to facilitate the building of several small modular reactors.
The group plans to later take a 20% stake in Videberg Kraft, it said in a joint statement on Monday.
Vattenfall is planning to build between three and five small modular reactors at its existing Ringhals plant in Varo, southwest Sweden, to provide a total output of around 1,500 MW.
Vattenfall CEO Anna Borg said the announcement was an important vote of confidence in new nuclear power in Sweden.
"We are closer now than we have been in 40 years and if it is up to us, it will happen," she told reporters, adding that the final decision on the investment was still years ahead.
Vattenfall has shortlisted Britain's Rolls-Royce SMR, and U.S. group GE Vernova, as the two possible suppliers of the nuclear reactors, and Borg said a decision on which one would come in 2026.
In total, Sweden is planning up to 12 new nuclear reactors by 2045, which could cost around 400 billion Swedish crowns ($39 billion), with the government offering to share some of the investment risks.
($1 = 9.4155 Swedish crowns)
(Reporting by Johan Ahlander; Editing by Conor Humphries)
Nuclear power is energy produced from nuclear reactions, primarily through the process of nuclear fission, where atomic nuclei split to release energy, used to generate electricity.
Modular nuclear reactors are smaller, factory-built reactors designed to be assembled on-site, providing a more flexible and potentially safer alternative to traditional large reactors.
Sustainability in energy refers to the use of energy sources that meet current needs without compromising the ability of future generations to meet theirs, often focusing on renewable resources.
Vattenfall is a Swedish utility company involved in the production and distribution of electricity and heat, playing a significant role in Sweden's nuclear energy initiatives.
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