Government Offers 220 Billion Kronor Loans for Nuclear Power Development

220 billion kronor. That's how much the government is willing to lend to companies that want to build new nuclear power.

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Government Offers 220 Billion Kronor Loans for Nuclear Power Development
Photo: Jonas Ekströmer/TT

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In May, a new nuclear power law was passed that sets the framework for how the state will participate and share the risks when new nuclear power is to be financed.

Among other things, this will be done through government loans, which are cheaper than regular loans on the financial market.

Now, the Tidö parties announce that they want to have the opportunity to lend out 220 billion kronor, in a so-called loan framework, to build new reactors over twelve years. The money is expected to be enough for up to 2,500 megawatt hours.

It's so that we can initiate sharp negotiations, says Financial Markets Minister Niklas Wykman (M).

The exact price for building nuclear power will be clear only when the negotiations with the companies that want to build are complete.

But according to Wykman, the Tidö parties' proposal is no "glad calculation" but assumes that several nuclear power projects in Europe have become more expensive than expected.

In addition, the government wants to add a risk reserve of 220 billion kronor to ensure that the projects are actually completed.

The worst would be half-finished nuclear power projects, says Wykman.

In order for companies to want to build, the government has also promised a price guarantee, which according to the Tidö parties would cost the state 1-3 billion kronor annually for 40 years after the reactors have been put into operation.

Correction: Previously, an incorrect figure regarding the risk reserve was mentioned.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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