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Nuclear Power

Friday
17 Nov 2023

Sweden Plans New Nuclear Reactors by 2035, Will Share Costs

17 Nov 2023  by reuters   

A Swedish flag hangs outside a store on a busy street as visitors walk past in the background in the old town of Stockholm, Sweden, July 14, 2023 REUTERS/Tom Little/File Photo Acquire Licensing Rights
Sweden's government said it aimed to build the equivalent of two new conventional nuclear reactors by 2035 on Thursday to meet surging demand for clean power from industry and transport and was prepared to take on some of the costs.

By 2045 the government wants to have the equivalent of 10 new reactors, some of which are likely to be small modular reactors (SMRs), smaller than conventional reactors.

Energy Minister Ebba Busch said the government was planning a "massive build out" of new nuclear power by 2045.

"It's decisive for the green transition, for Swedish jobs and at heart for the welfare of our citizens," she told reporters.

Countries like Poland, the Czech Republic, and Britain are looking at expanding nuclear power as societies transition to a fossil-fuel free future.

But critics have pointed to the huge costs and the private sector's reluctance to invest without guarantees or other incentives - like Britain's deal with French nuclear developer EDF for its new Hinkley Point C plant which gave price guarantees.

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