The application concerns plans for three or five new smaller reactors on the Värö Peninsula in Varberg Municipality, where the Ringhals nuclear power plant is located.
- The next step will now be to initiate negotiations with the Government Offices about government support, says Desirée Comstedt, head of new nuclear power at Vattenfall and CEO of Videberg Kraft.
- This is very good news for Sweden, says Financial Markets Minister Niklas Wykman (M), likening it to a Christmas present for the Swedes - a light in the darkness.
He does not want to say anything definitive about when he thinks the negotiations with the company might be completed. It concerns loan terms and guaranteed prices for electricity production, among other things.
- The work starts today. We have been preparing for this since August. But now we first have to read through the application.
He does not want to go into detail about how much it might cost to build new, other than that the government has assessed that it will be more expensive than investigator Mats Dillén's estimate of 400 billion kronor - plus a risk reserve of 200 billion - for 5,000 megawatts. The application that has now been submitted concerns capacity for 1,500 MW.
Spread risk
The negotiations will be based on the risk-sharing model for investments in new nuclear power that the Riksdag hammered through last spring. Desirée Comstedt has no idea when they might be ready.
Videberg Kraft AB is owned by the state-owned energy group Vattenfall, but has entered into an agreement with the Industrikraft group of companies to acquire 20 percent of the shares in Videberg Kraft. Industrikraft consists of nine major companies.
Tested by the EU
After negotiations with the Government Offices, the case will be handed over to the European Commission for review, to ensure that it does not contravene the rules on state aid.
Videberg Kraft AB plans to build five smaller BWRX-300 reactors from GE Vernova Hitachi or three reactors from Rolls-Royce SMR. The total output, regardless of the choice of reactor model, will be 1,500 megawatts.
"An intensive evaluation process is underway for the two remaining suppliers, and a decision on the final supplier is planned for 2026," Vattenfall writes in a press release.
Desirée Comstedt says that it is not possible to give any further information about when a supplier will be decided on in 2026. Negotiations are ongoing and the outcome of the upcoming negotiations with the Government Offices will also play a role.
