Sweden Picks Rolls-Royce SMR for Nuclear Plant

Written by Martin Lynch, European News Editor for IIR News Intelligence (Sugar Land, Texas)

Summary

The U.K.'s Rolls Royce SMR has notched up another European win for its SMR technology after being chosen by Sweden's Vattenfall for a proposed project at Ringhals nuclear power plant.

Sweden's power major Vattenfall has chosen U.K. small modular reactor (SMR) supplier Rolls Royce SMR for a new nuclear power plant at Ringhals.

Nuclear Revival

Rolls Royce SMR beat competition from GE Vernova for the contract which will see three of its 470 megawatt (MW) SMRs based on pressurised water reactor (PWR) technology used at a site next to the existing Ringhals nuclear power plant. The proposed deal will be worth "billions of pounds" but an exact figure has not been given. The project will be overseen by Videberg Kraft, a joint venture formed by state-owned Vattenfall and a Swedish industrial consortium, Industrikraft. Last year, Videberg Kraft said that it planned to order five BWRX-300 SMRs from GE Vernova or three SMRs from Rolls-Royce SMR. Sweden is Europe's busiest SMR market.  It will be the first new nuclear power plant constructed there in more than 40 years.  According to Industrial Info Resources data there are 10 proposed SMR projects worth more than US$20 billion in investment.

Sweden and New Nuclear Power

Sweden's current government is a strong proponent for new nuclear power. The country gets just under a third of its electricity from nuclear power. It wants to have 10 new reactors, including SMRs, in place by 2045 and is backing its drive with new draft laws to encourage more investment. The Act on Government Approval of Nuclear Facilities covers changes to environmental rules to let nuclear plants be placed in more coastal locations, and also changes to allow the restart of shutdown reactors. The country has six reactors offline. The new Ringhals SMR plant will have a combined generating capacity of more than 1,500 MW - equivalent to 6% of Sweden's power demand.  

Government Investment

The government, which owns Vattenfall, has announced plans to take a controlling stake in Videberg Kraft this year which is 80% owned by Vattenfall and 20% by Industikraft. The government intends to take a 60% stake with an expected investment of SEK 1.8 billion (US$180 million). "Sweden is a nuclear power nation, and will now be an even stronger one," said Minister for Energy, Business and Industry Ebba Busch. "As industry electrifies and the need for electricity grows, so too does the demand for long-term solutions. The Government is now taking the next step to clarify the state's role and responsibility in the further expansion of nuclear power."

Europe an SMR Hotbed

Europe is the second most active SMR market in the world after the U.S. with Industrial Info Resources tracking 52 projects worth US$156 billion in potential investment. In terms of project counts, Sweden leads the market with 10 proposed, followed by the Czech Republic (9) and Poland (6). Globally, Industrial Info Resources is tracking 129 projects worth US$341 billion.

Key Takeaways

• Sweden's state-owned Vattenfall has selected Rolls Royce SMR to build an SMR plant in Ringhals.
• The plant will use three 470 MW modular reactors based on pressurised water reactor (PWR) technology.
• Industrial Info Resources is tracking 10 proposed SMR projects in Sweden worth more than US$20 billion in investment.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).