Sweden – In order to determine the feasibility of constructing at least two small modular reactors (SMRs) close to the Ringhals nuclear power plant, Vattenfall is currently starting a feasibility study.
The demand for electricity in Sweden is expected to rise sharply in the coming decades, which is why Vattenfall is actively investigating the potential of various fossil-free energy sources to meet the rising demand.
“No investment decisions have been made but, during the spring, Vattenfall’s management team have been working on the issue of new nuclear power in Sweden. Provided that a feasibility study concludes that it would be profitable and all other conditions for a future investment decision are met, in particular, new regulations for nuclear power, it should be possible to have the first SMR reactor in operation by the early 2030s,” says Vattenfall’s CEO Anna Borg.
Examining key issues
The feasibility study is concentrating on the requirements for constructing SMRs in the southern bidding zones, primarily close to Ringhals nuclear power plant, as there is a need for more electricity generation in southern Sweden.
In order to determine the prerequisites for moving forward with the choice to construct at least two SMR reactors close to Ringhals nuclear power plant, the feasibility study will examine the key issues. The feasibility study will get started right away, and it should be finished by the end of 2023 or the beginning of 2024. Vattenfall has already made investments in a number of fossil-free energy sources, primarily in wind and hydropower as well as in technology for hydrogen gas energy storage.