Publication date:
June 19, 2024
Sweden's Proposal for Expanding Nuclear Power Faces Looming Deadlines
Sweden's plan to increase nuclear power by 2035 is at risk due to impending deadlines and the country's soaring energy demand.
Nuclear
Sweden is in urgent need of additional power capacity as demand is forecasted to double with the electrification of the economy in the coming years. The government's roadmap aims for at least 2,500 megawatts to be operational by 2035. Currently, Sweden operates six reactors that supply about one-third of the nation's electricity. State utility Vattenfall AB and Finland's Fortum Oyj are exploring new reactor options, though investment decisions are still distant. The nation must demonstrate that investing in nuclear power is feasible to attract funding. Vattenfall anticipates a potential installation of new reactors by the early 2030s, with small modular reactors from Rolls-Royce Holdings Plc and GE Hitachi Nuclear Energy under consideration. Furthermore, Vattenfall is reviewing suppliers for larger units and exploring extensions for its existing reactors to meet future energy requirements.