Vattenfall has chosen GE Vernova and Rolls-Royce SMR as potential suppliers for a new nuclear power on the Värö Peninsula, Sweden, following an extensive evaluation process involving 75 suppliers.
The evaluation considered technological readiness, site and logistics compatibility, and commercial factors, and assessed four reactor types.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company then narrowed the selection to two companies, considering their ability to deliver small modular reactors (SMRs) within a suitable timeframe and budget.
The process now moves towards finalising a supplier for the project.
Both selected suppliers offer reactors based on proven technology, with modular designs that incorporate lessons from global nuclear power projects.
Vattenfall’s existing experience with the fuel used by these reactors and their established supply chains added to their viability.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe selected suppliers also offer competitive electricity costs, which is a key consideration for the project’s success.
Vattenfall CEO Anna Borg said: “This is another step towards the first Swedish nuclear power construction in over 40 years.
“Our goal is a successful project on the Värö Peninsula, and by that we mean that there are prerequisites to begin operations within a reasonable timeframe and budget at the site available to us. A successful project also lays the foundation for further nuclear developments. We are already looking at the next step to build additional reactors where Ringhals 1 and 2 are currently located.”
The Värö Peninsula, home to the Ringhals nuclear power plant, has been identified as the optimal location for rapid development due to its grid capacity, existing nuclear expertise, and national energy interest designation.
The project envisions a combined output of 1,500MW from either five GE Vernova SMRs or three Rolls-Royce SMR reactors.
Vattenfall is considering expanding capacity by another 1,000MW at the adjacent sites of Ringhals 1 and 2.
However, challenges such as the tight location and the need to utilise land from the Biskopshagen nature reserve must be addressed.
Vattenfall’s assessment indicates that the chosen reactors will have a minimal impact on Ringhals’ operations during construction, due to fewer workers and reduced construction space requirements.
This approach promises to minimise the risk of cost overruns and is favourable for both Vattenfall and Sweden’s electricity supply.
The Swedish Parliament’s financing and risk-sharing model offers a supportive framework for Vattenfall’s potential investment in the project.
Next steps include applying for state risk-sharing and continuing preparations for environmental and nuclear technology applications.
Collaboration with the Industrikraft consortium, which includes leading Swedish industrial companies, will also progress.
In a related development, Vattenfall has secured a contract with Return for the operation and optimisation of a new 50MW energy storage site in Waddinxveen, Netherlands, up to 2033.
