Vattenfall Throws Lifeline to Swedish Nuclear Power Plant

Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Swedish energy giant Vattenfall AB (Stockholm, Sweden) has announced plans to invest 900 million Swedish kroner ($107 million) in new safety systems that will extend the life of two reactors at the Ringhals nuclear power plant beyond 2020.

The company said that it will invest in independent core cooling for reactors 3 and 4 at the power plant, which is claimed will allow Ringhals to supply electricity into the 2040s. The safety upgrade is a requirement set by the Swedish Radiation Safety Authority to enable operations to continue beyond 2020.

Sweden intends to produce all of its electricity from renewable sources by 2040, but last year the cross-party government opened the way for developers to replace older nuclear plants. Nuclear power accounts for 40% of the country's total electricity demand, which is supplied by nine operational reactors at three plants: Ringhals, Forsmark and Oskarshamn. The government has been encouraging the revival of its ageing fleet by axing a controversial tax that had been levied on nuclear power operators. It has also said that it is favour of allowing the construction of up to 10 new reactors as part of a new energy plan. For additional information, see June 20, 2016, article - Sweden Opts For New Nuclear Power.

"This is a very positive decision, and it means that Ringhals will continue to supply climate-smart electricity for a long time to come," said Torbjörn Wahlborg, head of Vattenfall Generation and chairman of the board of Ringhals AB. "The investment comes at a time when essential measures are being taken to increase efficiency in order to meet the tough competition on the electricity market. With the decision to upgrade Ringhals 3 and 4 with independent core cooling, we are adding a further safety system to plants that are already safe, and we can now plan for continued operation for the coming decades."

Industrial Info has been tracking the nuclear revival in Sweden along with the greater emphasis of security measures imposed by the regulator. Last year, the Swedish Radiation Safety Authority announced that nuclear power plants would have to add armed guards and dog patrols to boost security as a response to the worsening global security situation and the increase in terror attacks. For additional information, see February 11, 2016, article - Fear of Terror Attacks Forces Sweden to Boost Nuclear Plant Security.

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