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Released November 01, 2022 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Sweden's new government wants to expand nuclear energy and has tasked state-owned energy major Vattenfall (Stockholm) to look into the possibility of building new reactors as well as restarting older ones at the Ringhals power plant.
The coalition government said the conditions for investments in nuclear power "must be strengthened" and that it will fund special credit guarantees totalling SEK400 billion (US$35.7 billion), "with more generous terms than today's system." It is also planning to review the limitations in the current system of green credit guarantees so that the guarantees can also be used for the construction of nuclear power.
This is a big change for Sweden which has six operating nuclear reactors but where anti-nuclear power sentiment has been traditionally strong and has led to the early closure of some reactors. The mood in the country has changed in the past year with the growing European energy crisis caused by Russia's invasion of Ukraine and its cutting off of gas supplies to Europe. A recent survey conducted during the recent election polls showed that more than half of Swedes want new nuclear power in place to complement the shift to renewable energy.
The country generates more than 161 terawatt-hours (TWh) of electricity annually, most from hydropower (45%), followed by nuclear (29%), wind (17%), fossil-fuel power (8%) and solar (1%).
The Ringhals 1 and 2 reactors were closed earlier than expected at the end of 2020 and 2019, respectively, due to punitive taxes. Decommissioning is expected to start next year. Last year, Industrial Info reported that Westinghouse Electric Company (Cranberry Township, Pennsylvania) had secured a contract worth in the region of US$100 million from Vattenfall to dismantle the reactors at the Ringhals nuclear power plant in southern Sweden. The contract covers the dismantling of reactor tanks and their internal parts as well as fuel racks. It is unclear how the government's new request to potentially restart the reactors will have on the contract. For additional information, see August 25, 2021, article - Westinghouse Lands Ringhals Reactor Dismantling Contract.
The new government also stated that there should be longer-term protection for nuclear power. "New rules must be introduced which prevents politics from arbitrarily shutting down nuclear power plants--nuclear power must be guaranteed the right to operate and produce electricity as long as the facilities are in good condition and operated safely. If the state forces a closure, owners must be entitled to compensation."
It added: "[Vattenfall] must investigate the restart of planned electricity production in southern Sweden. A thorough investigation of what would be required to restart Ringhals 1 and 2 should be carried out unconditionally and quickly, as well as what the system benefit would be."
The government has decreed that a shorter permit process will be introduced in order to fast track new nuclear power projects, including small modular reactors (SMRs). This will include faster environmental planning and lower application fees associated with building new nuclear plants.
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, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The coalition government said the conditions for investments in nuclear power "must be strengthened" and that it will fund special credit guarantees totalling SEK400 billion (US$35.7 billion), "with more generous terms than today's system." It is also planning to review the limitations in the current system of green credit guarantees so that the guarantees can also be used for the construction of nuclear power.
This is a big change for Sweden which has six operating nuclear reactors but where anti-nuclear power sentiment has been traditionally strong and has led to the early closure of some reactors. The mood in the country has changed in the past year with the growing European energy crisis caused by Russia's invasion of Ukraine and its cutting off of gas supplies to Europe. A recent survey conducted during the recent election polls showed that more than half of Swedes want new nuclear power in place to complement the shift to renewable energy.
The country generates more than 161 terawatt-hours (TWh) of electricity annually, most from hydropower (45%), followed by nuclear (29%), wind (17%), fossil-fuel power (8%) and solar (1%).
The Ringhals 1 and 2 reactors were closed earlier than expected at the end of 2020 and 2019, respectively, due to punitive taxes. Decommissioning is expected to start next year. Last year, Industrial Info reported that Westinghouse Electric Company (Cranberry Township, Pennsylvania) had secured a contract worth in the region of US$100 million from Vattenfall to dismantle the reactors at the Ringhals nuclear power plant in southern Sweden. The contract covers the dismantling of reactor tanks and their internal parts as well as fuel racks. It is unclear how the government's new request to potentially restart the reactors will have on the contract. For additional information, see August 25, 2021, article - Westinghouse Lands Ringhals Reactor Dismantling Contract.
The new government also stated that there should be longer-term protection for nuclear power. "New rules must be introduced which prevents politics from arbitrarily shutting down nuclear power plants--nuclear power must be guaranteed the right to operate and produce electricity as long as the facilities are in good condition and operated safely. If the state forces a closure, owners must be entitled to compensation."
It added: "[Vattenfall] must investigate the restart of planned electricity production in southern Sweden. A thorough investigation of what would be required to restart Ringhals 1 and 2 should be carried out unconditionally and quickly, as well as what the system benefit would be."
The government has decreed that a shorter permit process will be introduced in order to fast track new nuclear power projects, including small modular reactors (SMRs). This will include faster environmental planning and lower application fees associated with building new nuclear plants.
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, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
