The Swedish government recently revealed a comprehensive roadmap aiming to establish new nuclear power capacities equivalent to at least two large-scale reactors by 2035, with a potential
for up to ten new reactors by 2045.
The roadmap, presented by several key ministers and officials, comes on the heels of a marked shift in the nation's energy policies. Last year, a coalition government, including the Christian Democrats, Liberals, Moderates, and Sweden Democrats, unveiled the Tidö Agreement, pivoting from a renewable energy focus to a 100% fossil-free energy objective. Anticipating a doubled electricity demand by 2045, the agreement outlined the need for significant energy production growth.
In January of this year, Prime Minister Ulf Kristersson and Climate and Environment Minister Romina Pourmokhtari proposed legislative amendments, aiming to remove limitations on the number of reactors operational (capped at 10) and allow the construction of reactors on new sites.
The current roadmap emphasizes four critical points. First, it mandates the appointment of a nuclear power coordinator to streamline the expansion process by addressing hurdles and orchestrating a cohesive expansion strategy.
Secondly, the government intends to devise a risk-sharing financial model to boost incentives for nuclear investments, building on the proposed government credit guarantees of SEK400 billion (USD38 billion).
Thirdly, the plan aims to initiate new nuclear power projects with an output of at least 2500 MWe by 2035.
Lastly, the roadmap envisages a considerable expansion by 2045, potentially accommodating up to ten large-scale reactors. The exact number and types of reactors will hinge on various factors, including technological advancements and regional energy demands.
Deputy Prime Minister and Energy Minister Ebba Busch underscored the significance of these decisions, positioning Sweden as a key player in the global nuclear energy landscape and a driving force in transitioning toward green energy.
Finance Minister Elisabeth Svantesson echoed the sentiments, emphasizing the necessity of nuclear energy for a robust and reliable energy infrastructure and advocating for a pivotal role of the state in funding this expansion, considering the steep cost of not investing in nuclear power. Photo by Jorchr, Wikimedia commons.