What triggered Sweden’s shift from a nuclear phase-out to building new reactors?

Sweden's policy turnaround was driven by 2040, a combination of factors: the push for a fossil-free power system by 2040, extreme weather exposing the need for firm power, power transfer constraints between the north and south, volatile electricity prices and rising energy security concerns.

How will nuclear new builds help Sweden solve grid bottlenecks and price volatility?

Nuclear supports Sweden's grid stability by unlocking more capacity on existing lines. It also enables new consumption more reliable than from intermittent renewables without constant grid expansion.

What role will SMRs play in Sweden, and when could they realistically arrive?

Conventional light-water SMRs are seen as the nearest-term option because the technology is relatively proven for experienced nuclear nations, though supply chain readiness could slow progress. If plans hold, Sweden could have SMRs operating before the mid-2030s, while advanced designs remain further from commercial rollout.

How is Sweden accelerating investments and deployment for new nuclear projects?

A new state-backed financing model provides certainty for investors in the Swedish nuclear landscape. Sweden has also proposed a new licensing pathway that would guarantee clarity for projects earlier on, potentially cutting years of uncertainty before detailed permitting begins.

Power Technology

Iberdrola awards $4bn contracts for EGL4 subsea interconnector

EGL 4 will have a capacity of 2GW, linking Fife in Scotland with Norfolk in England.

Iberdrola, through its subsidiary SP Energy Networks, has awarded contracts valued at more than £3bn ($3.96bn) for the Eastern Green Link 4 (EGL4) subsea electricity interconnector connecting Scotland and England.

The infrastructure aims to bolster the UK's energy framework, enhance supply security and self-sufficiency, and contribute to the nation's economic development.

Under the contract, Siemens Energy will build two high-voltage direct current (HVDC) converter stations.

These stations will facilitate the efficient transmission of electricity at 525,000 volts across a distance of approximately 640km, with most of it being subsea.

This marks the second contract for the project, following an earlier agreement this year with Prysmian.

Valued at £2bn, the contract involves supplying over 640km of cable, with 530km designed for subsea installation and 116km intended for underground placement.

EGL 4 will have a capacity of 2GW, linking Fife in Scotland with Norfolk in England.

It is expected to deliver sufficient renewable energy for more than 1.5 million homes.

The converter stations will be situated in these two locations.

Construction is set to commence in 2028, with completion anticipated by 2033.

This initiative follows EGL 1, another 2GW connection between Torness in Scotland and Hawthorne Pit in England, which began construction in 2025 and is slated for completion in 2029.

By 2031, Iberdrola plans to invest €14bn in transmission networks across the UK to enhance electricity transfer capacity between regions.

The company also aims to reduce reliance on imported fossil fuels and support economic growth.

The UK remains a key investment destination for Iberdrola, with €20bn earmarked for projects by 2028 to bolster energy sustainability and competitiveness.

Recently, ScottishPower, backed by its parent company Iberdrola, secured £600m funding from the National Wealth Fund to support the development of the EGL 4 project.