Sweden to take majority stake in new nuclear reactors

The Swedish government has agreed to a financing deal with Videberg Kraft for new nuclear reactors at Ringhals, with the state set to become a 60% owner of the project, officials announced Thursday.

Under the agreement, the state will provide funding for three small modular reactors to be built by British firm Rolls-Royce, with operations targeted for the mid-2030s pending EU approval. The European Commission is expected to rule on the state aid compliance by autumn 2027.

Vattenfall will retain a 20% stake in Videberg Kraft, while Industrikraft i Sverige AB holds the remaining 20%.

Prime Minister Ulf Kristersson called the decision “truly historic,” while Enterprise Minister Ebba Busch confirmed the deal finalizes Sweden’s commitment to new nuclear construction.