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

Scatec signs PPA for 1GW solar and 100MW battery storage in Egypt

The agreement, denominated in US dollars, extends for a 25-year period.

Norwegian energy company Scatec has signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company for a 1GW solar and 100MW/200 megawatt hours (MWh) battery storage project in Egypt.

The agreement, denominated in US dollars, extends for 25 years.

Scatec will be responsible for engineering, procurement and construction and asset management services for the project.

Scatec will also provide ongoing operations and maintenance services to the facility.

Scatec has signed a mandate letter with several development financing institutions to secure concessional financing for the project.

The company anticipates financial close with the lenders and the start of construction of the solar and battery energy storage system hybrid project in the first half of 2025.

Scatec CEO Terje Pilskog stated: “This will be the first hybrid solar and battery project in Egypt and demonstrates Scatec’s strong position as one of the largest renewable energy producers in the country.

“We are pleased to have entered the PPA with Egyptian Electricity Transmission Company. We will now finalise land lease agreements, grid connection agreements and financing, and prepare for construction of the project.”

In another development, SUSI Partners, representing the SUSI Asia Energy Transition Fund, has reached an agreement to acquire the 39MW Dam Nai wind farm in Ninh Thuận province of Vietnam from Scatec.

The transaction also includes the takeover of Scatec's operating company in Vietnam, which will enable SUSI Partners to pursue further expansion in the region.

In March 2024, Scatec, Hydro Rein and Equinor began commercial operations at the 531MW Mendubim solar facility in Rio Grande do Norte, Brazil - Scatec's second project in the country.

The solar plant comprised multiple projects and was backed by a 20-year PPA with Alunorte, an alumina supplier largely owned by Hydro.