State power company says evaluation continuing of two technology suppliers
Swedish utility Vattenfall has applied for state financing to build new reactors at its Ringhals plant, it said on Tuesday, the first company to do so under a scheme the government hopes will lead to a renaissance in nuclear power.
State-owned Vattenfall, through its majority-owned nuclear project company subsidiary Videberg Kraft, plans to build small, modular reactors (SMRs) at Ringhals, on the Värö Peninsula, southwest Sweden.
Vattenfall said in a statement that on 23 December that Videberg Kraft’s chief executive officer Desirée Comstedt submitted an application for “financing and risk-sharing” to the Swedish government.
The application was written in accordance with a framework for financing and risk sharing set out by a government bill that was adopted by the Swedish parliament, the Riksdag, in May 2025.
Vattenfall said the model encompasses provisions for state aid to companies seeking to invest in nuclear reactors.
In November Vattenfall and the industrial consortium Industrikraft signed an agreement for joint investment and collaboration that will enable the next steps in the project to deploy new nuclear power in Sweden.
Vattenfall said Industrikraft will become a 20% shareholder in Videberg Kraft and invest SEK400m (€36m, $42m) in the project.
Industrikraft was formed in June 2024 to support the expansion of Swedish non-fossil fuel electricity supply.
Other companies involved in the project include ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs, SSAB, Saab, Stora Enso and the Volvo Group.
Videberg Kraft is planning a project with either five BWRX-300 reactors from GE Vernova Hitachi or three reactors from Rolls-Royce SMR, which will provide a total output of approximately 1,500 MW.
“There is currently an intensive evaluation process of the two remaining suppliers, and a decision on the final supplier is planned for 2026,” Vattnfall said.
Vattenfall is planning a project with either five BWRX-300 plants for a total capacity of 1,500 MW or three Rolls-Royce SMR plants for 1,410 MW.
The company also said it is already looking at the next step to build an additional 1,000 MW of SMR capacity at the Ringhals site, where two large-scale reactors are in operation and two have been permanently shut down.
The company said building a series of smaller units as opposed to single, large-scale reactors, brings clear cost advantages. SMRs require less space, need significantly fewer personnel, and lead to more manageable logistics.
