Sweden's Vattenfall picks Rolls-Royce SMR for nuclear power project
Vattenfall's Strategic Nuclear Power Decision
Selection of Rolls-Royce SMR Over GE Vernova
OSLO, June 15 (Reuters) - Swedish utility Vattenfall said on Monday it has selected Rolls-Royce SMR to supply a series of small modular nuclear reactors, choosing the British company over U.S. rival GE Vernova.
Background: Sweden's Nuclear Legislation and Energy Goals
Sweden's parliament last year passed legislation to finance a new generation of reactors, the first built in Sweden for more than 40 years and which the government says is necessary for energy security and achieving net zero emissions by 2045.
Videberg Kraft Venture: Competing Reactor Proposals
Vattenfall in August of 2025 said its Videberg Kraft venture planned to order either five BWRX-300 reactors from GE Vernova or three Rolls-Royce small modular reactors (SMRs), to provide a total output of close to 1,500 MW.
European Initiative and Project Realization
The selection of the British group over the U.S. offer makes Sweden part of a wider European initiative, giving the Nordic country its first new nuclear power in over 40 years, Vattenfall CEO Anna Borg told a press conference.
"This project will now be turned into reality," Borg said.
Project Details and Stakeholder Involvement
Rolls-Royce SMR Output and Project Location
Rolls-Royce has said each of its SMRs would generate enough electricity to power a million homes for more than 60 years.
Videberg Kraft, 80% owned by Vattenfall with the remaining 20% held by a group of Sweden's largest companies, plans to build the new nuclear power capacity at the site of the current Ringhals nuclear facility in south-west Sweden.
Government Support and Financing
Nuclear Power Revival and Majority Stake Plans
Sweden's right-of-centre government wants to revive nuclear power amid energy security concerns and forecasts that electricity demand will double by 2045, and plans to take a 60% majority stake in Videberg Kraft pending parliamentary approval.
Financial Incentives and Capacity Targets
With private investors deterred by high costs and risks, the government has offered up to 440 billion crowns ($47 billion) in loans, 40-year price guarantees and support for nuclear waste management, aiming to spur the construction of at least 5,000 MW of new nuclear capacity.
(Reporting by Nora Buli, editing by Terje Solsvik)
