Vattenfall has decided to proceed with the American company GE Vernova and the British Rolls-Royce SMR in the process of selecting a final supplier for new nuclear reactors. Both companies produce so-called modular reactors. Given the conditions at the current reactor site on the Värö Peninsula, these suppliers are considered to have the best prerequisites to deliver within a reasonable timeframe and budget. The process to enable new nuclear power is now continuing.
“This is another step on the way 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,” says Anna Borg, CEO and President, Vattenfall.
The Värö Peninsula, where the Ringhals nuclear power plant is located, is considered the best location to bring new nuclear power into operation in Sweden as quickly as possible. Here, there is capacity in the electricity grid, nuclear competence, and a high demand for electricity in the region. At the same time, the site has limitations in terms of space and infrastructure.
The selected suppliers offer modular reactors, SMRs, with proven technology and simplified designs that have integrated learnings from previous nuclear projects worldwide. Both use fuel for which Vattenfall has established supply chains.
“We have conducted a very thorough evaluation of the suppliers and reactors. It is very gratifying that we now can, after a process that began with 75 potential suppliers, go from four to two. Building a series of smaller units brings clear cost advantages; they require less space, need significantly fewer personnel, and leads to more manageable logistics. This also increases the ability during the construction phase to find, house, and transport staff, reducing the risk of increased costs,” says Desirée Comstedt, Vice President and Head of New Nuclear at Vattenfall.
Vattenfall is planning a project with either five BWRX-300 (GE Vernova) or three Rolls-Royce SMR reactors, which will provide a total output of around 1,500 MW. By comparison, a 500 MW SMR has the same capacity as the first large-scale reactor in Oskarshamn.
New Swedish nuclear power will require collaboration among many stakeholders. The industry consortium Industrikraft is an initiative involving 17 leading Swedish industrial companies with which Vattenfall has had a close dialogue from the start.
“The process of constructing new nuclear reactors has taken a significant step forward, and there is now a clear and viable project on the Värö Peninsula. Industrikraft welcomes this development and will work together with Vattenfall to create the conditions for the planned joint investment in the project company. It is also crucial that there are long-term stable political conditions”, says Tom Erixon, Chair of Industrikraft.
The process to enable new nuclear power continues. An application for state risk-sharing will be submitted and a final supplier selected. Vattenfall is already looking at the next step to build additional 1000 MW where Ringhals 1 and 2 are currently located. Final investment decisions will be made later in the process.
Vattenfall will present more information about the background to the decision at a press seminar in Swedish at the press centre at Ringhals nuclear power plant on Thursday, 21 August at 15:30 CEST with Anna Borg, CEO and President and Desirée Comstedt, Vice President and Head of New Nuclear. The press seminar will be broadcasted live here.
At 17:00 CEST the same day, an English-language audiocast will also be held, where journalists and analysts can ask questions to Anna Borg and Desirée Comstedt.
Link audiocast
To join by telephone, please dial one of the numbers a few minutes before the broadcast starts.
Telephone conference ID: 718 235 124#
Germany: +49 69 667781690
Netherlands: +31 20 258 8526
UK: +44 20 3321 5273
For more information, please contact:
Natalie Sial Berkman, Director Media Relations Sweden, natalie.sialberkman@vattenfall.com
Vattenfall’s Press Office, +46 8 739 50 10, press@vattenfall.com