Key facts
- Sweden has selected Rolls-Royce Holdings to supply new small nuclear reactors.
- The deal aims to increase Sweden's nuclear energy capacity.
- Rolls-Royce's Small Modular Reactor (SMR) unit secured the contract.
- This marks Sweden's first new nuclear power in over 40 years.
- Rolls-Royce SMR received a £599 million financing package from the National Wealth Fund.
Sweden has selected Rolls-Royce Holdings to provide several new small nuclear reactors, aiming to bolster its nuclear energy capacity and meet increasing power demands in the coming decades. The contract, secured by Rolls-Royce's Small Modular Reactor (SMR) unit, Videberg Kraft, marks the country's first new nuclear power in over 40 years. Rolls-Royce SMR, which is co-owned by Czech power company CEZ, designs and delivers factory-built nuclear power plants. CEO Tufan Erginbilgic highlighted the growing international interest in the SMR market. The UK government has also backed Rolls-Royce SMR 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.