Sweden Taps Rolls-Royce for New Nuclear Reactors

Sweden has chosen Rolls-Royce to supply new nuclear reactors as part of an effort to bolster its nuclear energy capacity. The contract, secured by Rolls-Royce's Small Modular Reactor (SMR) unit, Videberg Kraft, will see the delivery of Sweden's first new nuclear power in over four decades. Rolls-Royce SMR, which is co-owned by Czech power company CEZ, designs and delivers factory-built nuclear power plants. The company's CEO, Tufan Erginbilgic, highlighted the momentum and strategic success of the SMR unit, noting the growing international interest in the market. The UK government has also backed Rolls-Royce SMR, designating it as its preferred technology partner for its own SMR program, with a project planned for Wylfa in North Wales. The National Wealth Fund has provided a £599 million financing package to de-risk the project for private lenders. Each Rolls-Royce SMR is designed to generate 470 megawatts of low-carbon electricity.