NextFin news, Swedish state-owned utility Vattenfall announced on August 21, 2025, that it has chosen two suppliers, GE Vernova from the United States and Rolls-Royce SMR from the United Kingdom, to proceed with plans to build small modular nuclear reactors (SMRs) at its existing Ringhals nuclear power station located on the Värö Peninsula in southern Sweden.
The decision marks a significant step in Sweden's nuclear energy development, as it will be the first new nuclear power construction in the country in over 40 years. Vattenfall's CEO Anna Borg stated that the company aims to have the first reactor operational around 2035, emphasizing the goal of completing the project within a reasonable timeframe and budget.
Vattenfall plans to build either five 300 MW BWRX-300 reactors supplied by GE Vernova, totaling approximately 1,500 MW, or three 470 MW reactors from Rolls-Royce SMR, totaling about 1,410 MW. Both reactor designs are small modular reactors, which offer advantages such as reduced space requirements, fewer personnel needed, and more manageable logistics compared to traditional large-scale reactors.
The project is supported by Industrikraft, a consortium of 17 major Swedish industrial companies collaborating with Vattenfall to facilitate the investment and development process. Vattenfall intends to apply for state risk-sharing support and will make a final investment decision later in the process.
Energy and Business Minister Ebba Busch (KD) highlighted the importance of this development as a key step in Sweden's energy policy, noting the global competition in nuclear technology. The government has prioritized new nuclear construction since taking office in 2022, with commitments to begin building new reactors within the current parliamentary term.
The Ringhals site, where the new SMRs will be constructed, has existing nuclear infrastructure, which Vattenfall considers advantageous for the project. The construction phase is expected to last about ten years and could create up to 12,000 jobs in the region.
Vattenfall's announcement follows a thorough evaluation process that initially considered 75 potential suppliers before narrowing down to the two finalists. Both GE Vernova and Rolls-Royce SMR use fuel types for which Vattenfall has established supply chains, and their designs incorporate lessons learned from previous nuclear projects worldwide.
The company also indicated plans to explore building an additional 1,000 MW of SMR capacity at Ringhals in the future, further expanding Sweden's nuclear energy capabilities.
Sources for this report include Vattenfall's official press release, coverage by SVT Nyheter published on August 21, 2025, Reuters, Bloomberg, and NucNet news services.
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