The Swedish utility Vattenfall has announced the launch of a new nuclear company to enable an application for state aid, in order to develop new nuclear power at the Ringhals nuclear site in Sweden. Setting up a separate project company is a prerequisite for applying for state aid, thus Vattenfall has applied to register the new company, named Videberg Kraft AB.
The project company will initially be wholly owned by Vattenfall, but together with Industrikraft, the conditions for co-ownership from the industry are being investigated. Videberg Kraft AB will own the development project and Vattenfall will continue to drive the development work at Ringhals.
Sweden plans to build either 2 large-scale nuclear power reactors or 3 to 5 SMR reactors at Ringhals. In late 2023, the Swedish government approved a bill that removed the country’s limit on the number of nuclear reactors in operation, allowing more than 10 reactors to be in operation at the same time.