Vattenfall and the industrial consortium Industrikraft have entered into an agreement on joint investment and cooperation, which will pave the way for the next step in the development of new nuclear power in Sweden. In this context, Industrikraft will become a co-owner of the project company Videberg Kraft AB, which is Vattenfall's project company with the purpose of developing, constructing and owning new nuclear power.
Industrikraft i Sverige AB was established in June 2024 to support the expansion of the Swedish electricity supply. The consortium consists of companies such as ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs AB, SSAB, Saab, Stora Enso and Volvo Group.
- Industrikraft and Vattenfall have agreed on the most important issues. In the first phase, Industrikraft will invest 400 million DKK in the project. In addition to contributing financing, the industry will also provide resources, project management expertise and technology selection. Swedish technology must have a place in a competitive environment to strengthen a supplier cluster in Europe, says Tom Erixon, CEO of Alfa Laval and Chairman of Industrikraft, in a press release.
The agreement between Vattenfall and Industrikraft makes it possible to continue the plans for new nuclear power on the Värö peninsula near Ringhals. It includes, among other things, the division of responsibilities, influence and financing. Industrikraft will become a 20 percent co-owner of Videberg Kraft AB, and the Swedish state has previously announced that it also plans to become a co-owner.
- It is very positive that Vattenfall and Industrikraft are now taking the next step to jointly take the project forward. Industry is an important partner in enabling new nuclear power in Sweden. The commitment and willingness of these companies to jointly own the project on the Värö peninsula shows that there will be demand for the new fossil-free electricity production capacity. In the next phase, Videberg Kraft AB is working on preparing an application for state risk sharing, says Anna Borg, CEO of Vattenfall.
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