Sweden restarts nuclear power: Vattenfall chooses between Rolls-Royce and GE Vernova

Sweden’s nuclear plans are taking clearer shape. While the Swedish parliament approved legislation enabling the financing of new nuclear reactors in May, energy company Vattenfall has now announced two candidates being considered for their construction. The focus is to be primarily on small modular reactors (SMRs), Reuters reported.

Sweden is returning to nuclear power after more than 40 years. The main player in the project will be national energy giant Vattenfall, but it had not been clear which technology it would choose. The selection has been narrowed down from an initial 75 candidates to two: Rolls-Royce SMR and GE Vernova. The British company proposes building three modular reactors, while GE Vernova has put forward a project involving five BWRX-300 reactors.

“Our goal is a successful project on the Värö Peninsula. For us, this means having the conditions in place to begin operations within a reasonable timeframe and budget at the site available to us. A successful project will also lay the foundations for further development of nuclear power,”said Vattenfall CEO Anna Borg.

The main criteria in selecting a supplier were technology, suitability for the site and commercial considerations. Sweden is betting on the SMR concept, which has not yet been deployed in Europe and may therefore entail some uncertainty. According to Vattenfall, however, so-called “learning costs” can bring significant benefits: modular reactors can be built in series, while experience from each completed unit can be applied to the construction of subsequent ones.

The new units are to be built on the Värö Peninsula, where the Ringhals nuclear power plant is already located. The site was selected for several reasons: it offers good connections to the grid and other infrastructure, has specialist expertise thanks to the existing plant, and has been designated by the Swedish Energy Agency as an area of national interest for energy generation.

An important factor in choosing the supplier is the ability to adapt to constrained conditions and make efficient use of land, part of which falls within the Biskopshage nature reserve. At the same time, Ringhals will be undertaking complex logistical operations linked to the extension of the operating life of its existing reactors from 60 to 80 years.

From a commercial perspective, Vattenfall expects SMRs to require less construction space, fewer personnel and more manageable logistics, which should significantly reduce the risk of cost overruns. The company’s analyses also show that the selected suppliers offer a relatively lower electricity price, and that there are good prospects of delivering the Värö Peninsula project within a reasonable timeframe and budget.