Nov 12, 2025
Industrikraft will acquire a stake in the Ringhals new construction project company.
Swedish state-owned energy company Vattenfall has reached an agreement with the Industrikraft i Sverige AB consortium for joint investment and collaboration, marking a significant step in developing new nuclear power capacity in Sweden.
Industrikraft, established in June 2024 to enhance Sweden's electricity supply, is progressing to the next phase of nuclear power investment with partners including ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs AB, SSAB, Saab, Stora Enso, and the Volvo Group.
The agreement between Vattenfall and Industrikraft facilitates advancements in establishing new nuclear power on the Värö Peninsula at Ringhals, addressing responsibilities, influence, and financing.
The next phase involves Industrikraft becoming a 20% shareholder in Videberg Kraft AB, a project company set up by Vattenfall in April to pursue government support. A separate project entity is necessary for government applications. Videberg Kraft AB will manage the development project, while Vattenfall will oversee the development process. The government has indicated its intention to also partner in the company.
Industrikraft will initially invest SEK400 million (USD42.2 million) in the project, providing co-financing and contributing resources and expertise in project management and technology selection.
Vattenfall CEO Anna Borg expressed positivity over the collaboration, emphasizing the industry's crucial role in advancing nuclear power in Sweden. The commitment from these companies to co-own the Värö Peninsula project indicates a demand for new fossil-free electricity production capacity. Videberg Kraft AB is now preparing a state risk-sharing application.
In May, Sweden's parliament approved government proposals for state aid to support investments in new nuclear reactors. The loans are intended to reduce financing costs for large-scale reactors, with support contingent on location and capacity requirements. Two-way Contracts for Difference can be established after a new reactor is operational and licensed for full-capacity electricity production. The new state aid act took effect on August 1, allowing companies to apply for aid.
In August, Vattenfall announced its choice of small modular reactors for new nuclear capacity at the existing Ringhals site, narrowing the options to GE Vernova Hitachi's BWRX-300 and the Rolls-Royce SMR. An application for state risk-sharing was set to be submitted, along with the selection of a final supplier.
Industrikraft, established in June 2024 to enhance Sweden's electricity supply, is progressing to the next phase of nuclear power investment with partners including ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs AB, SSAB, Saab, Stora Enso, and the Volvo Group.
The agreement between Vattenfall and Industrikraft facilitates advancements in establishing new nuclear power on the Värö Peninsula at Ringhals, addressing responsibilities, influence, and financing.
The next phase involves Industrikraft becoming a 20% shareholder in Videberg Kraft AB, a project company set up by Vattenfall in April to pursue government support. A separate project entity is necessary for government applications. Videberg Kraft AB will manage the development project, while Vattenfall will oversee the development process. The government has indicated its intention to also partner in the company.
Industrikraft will initially invest SEK400 million (USD42.2 million) in the project, providing co-financing and contributing resources and expertise in project management and technology selection.
Vattenfall CEO Anna Borg expressed positivity over the collaboration, emphasizing the industry's crucial role in advancing nuclear power in Sweden. The commitment from these companies to co-own the Värö Peninsula project indicates a demand for new fossil-free electricity production capacity. Videberg Kraft AB is now preparing a state risk-sharing application.
In May, Sweden's parliament approved government proposals for state aid to support investments in new nuclear reactors. The loans are intended to reduce financing costs for large-scale reactors, with support contingent on location and capacity requirements. Two-way Contracts for Difference can be established after a new reactor is operational and licensed for full-capacity electricity production. The new state aid act took effect on August 1, allowing companies to apply for aid.
In August, Vattenfall announced its choice of small modular reactors for new nuclear capacity at the existing Ringhals site, narrowing the options to GE Vernova Hitachi's BWRX-300 and the Rolls-Royce SMR. An application for state risk-sharing was set to be submitted, along with the selection of a final supplier.