en.Wedoany.com Reported - On June 15, Swedish utility company Vattenfall announced it has selected the small modular reactor (SMR) from UK-based Rolls-Royce as its product for building new nuclear facilities at the Ringhals nuclear power plant site in southwestern Sweden, ultimately abandoning its US competitor GE Vernova. This is a deal worth billions of pounds.

In August last year, Vattenfall's joint venture Videberg Kraft stated it planned to order five BWRX-300 reactors from GE Vernova or three SMRs from Rolls-Royce. Ultimately, Vattenfall CEO Anna Borg announced the selection of the British Rolls-Royce Group at a press conference, stating that "this project will now become a reality" and that the choice makes Sweden part of a broader European initiative.

It is reported that each reactor has an output of 470 megawatts (MW), and the three units combined can produce approximately 12 terawatt-hours (TWh) of electricity annually, equivalent to about 6% of Sweden's annual electricity consumption. The companies involved stated that the first reactor could be operational by the mid-2030s, depending on licensing and regulatory procedures.

Swedish Energy Minister Ebba Busch stated that the agreement is an important step in building new nuclear power plants and will lower consumer electricity prices. UK Prime Minister Keir Starmer said the deal is a major victory for the British economy. The UK government had lobbied for this, and final terms are expected to be determined later.

Last year, the Swedish parliament passed legislation to fund a new generation of reactors. Sweden's center-right government plans to invest hundreds of billions of kronor to revitalize the nuclear energy industry and intends to acquire a 60% majority stake in Videberg Kraft, pending parliamentary approval. The government predicts that electricity demand will double by 2045 and considers nuclear power crucial for energy security and achieving net-zero emission targets. Vattenfall holds 80% of Videberg Kraft's shares, with the remaining 20% held by several large Swedish corporate groups.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com