Vattenfall has agreed to sell 60% of the shares in Videberg Kraft AB, a company created to develop new nuclear generation capacity in Sweden, to the Swedish State. Following the transaction, Vattenfall will retain a 20% stake, while Industrikraft will hold the remaining 20%, establishing a shared ownership structure aimed at supporting long-term nuclear projects.
The agreement also outlines the principles for risk sharing and the company’s financing scheme, elements considered fundamental for advancing the construction of new nuclear facilities in the country.
An Ownership Structure to Support Future Nuclear Power Plants
The new shareholding structure aims to provide financial and operational stability to the Videberg Kraft project, which is developing initiatives to expand nuclear generation capacity in Sweden.
As agreed, the Swedish State will assume the majority stake, while Vattenfall and Industrikraft will remain involved as strategic partners, combining public and private resources to boost the sector’s development.
Anna Borg, President and CEO of Vattenfall, stated that the agreement represents a significant step forward for the Swedish nuclear program and highlighted that the collaboration between the State, industry, and the energy company constitutes an unusual model for this type of project.
Financing and Risk Sharing for Long-Term Projects
In addition to the change in ownership, the parties agreed on the general terms that will govern Videberg Kraft’s financing and the allocation of responsibilities between the public sector and industrial partners.
This model seeks to offer greater financial certainty for a technology that requires large-scale investments and long development periods before becoming operational.
Desirée Comstedt, interim CEO of Videberg Kraft AB, noted that the State’s incorporation as a majority shareholder creates the necessary conditions to enable the development of new nuclear power on the Värö peninsula.
Videberg Kraft Has Already Defined the Technology for Its New Reactors
Videberg Kraft continues to develop its strategy to expand the country’s nuclear capacity. As part of this process, the company recently announced the selection of Rolls-Royce SMR as the supplier of three small modular reactors (SMRs), a technology considered one of the main alternatives for incorporating new low-carbon electricity generation.
The combination of a new ownership structure, a shared financing model, and the definition of the technology provider positions the project among the most relevant initiatives for the future of the Swedish electricity system.
Source: https://group.vattenfall.com/
