Sweden takes majority stake in Videberg Kraft's SMR project
The Swedish government has decided that the state will acquire a 60% stake in Videberg Kraft AB, the company planning to build three Rolls-Royce SMRs on the Värö Peninsula, near the Ringhals nuclear site.
Following approval by the Swedish parliament (Riksdag), the Government will purchase shares worth up to SEK1.8 billion (USD190 million). This reduces state-owned Vattenfall’s holding from 80% to 20%, while the Swedish industrial association Industrikraft will retain its 20% stake. The transfer is expected to be completed in the second half of 2027.
The Government's purchase will reduce the holding from Vattenfall and Industrikraft to 20% each
Parliament has also authorised the government to adjust its ownership between 51% and 65% until the reactors enter commercial operation and to provide up to SEK34.3 billion in capital contributions during construction, provided the other shareholders contribute their proportional share. These authorisations remain valid until the reactors begin routine operation, and no later than 2045.
The Government will adjust its ownership between 51% and 65% until the three Rolls Royce SMRs enter commercial operation
The government, Vattenfall and Industrikraft will now sign a shareholders’ agreement governing the company. In parallel, the government has negotiated the main terms of the state support package, which includes state-backed loans, two-way Contracts for Difference (CfDs), a risk- and profit-sharing mechanism, and provisions for nuclear waste management.
With the ownership agreements in place, Sweden will notify the European Commission of the proposed state aid, with a decision expected in late 2027.
Minister for Financial Markets Niklas Wykman said new nuclear power is costly and complex but essential for a more reliable energy system, adding that the agreement demonstrates a strong long-term commitment while safeguarding public finances.
The decision is based on legislation approved by the Riksdag last year that establishes a framework for state support for new nuclear projects. The scheme offers financing support equivalent to up to four large reactors (around 5,000 MWe).
According to the Ministry for Financial Markets, this agreement demonstrates a long-term commitment while safeguarding public finances
The Videberg project would be Sweden’s first new nuclear power plant in more than 40 years, adding around 1.5 GW of generating capacity to the grid. The first unit is targeted to enter operation in the mid-2030s. Today, Sweden has 6 nuclear reactors in operation producing 26,7% of the electricity.
Source: World Nuclear News
