Diplomat Foreign Desk
Stockholm: The Government has received the first application for state aid to build new nuclear power in Sweden.
Videberg Kraft AB has applied for support to build new reactors on the Värö Peninsula at Ringhals. The company is backed by Vattenfall AB and several large Swedish industrial corporations under Industrikraft i Sverige AB.
The Government has received the first application for state aid to build new nuclear power in Sweden. Videberg Kraft AB has applied for support to build new reactors on the Värö Peninsula at Ringhals. The company is backed by Vattenfall AB and several large Swedish industrial corporations under Industrikraft i Sverige AB.
“The fact that we have received this first application confirms that Swedish industrial companies want to get involved in building nuclear power. This is a decisive step towards getting new reactors in place, and we are ready to receive more applications in the future,” says Minister for Financial Markets Niklas Wykman.
In the application, Videberg Kraft AB outlines its plans to build reactors on the Värö Peninsula at Ringhals 1 and 2. The project is expected to provide a total electrical capacity of approximately 1 500 MW.
The application will now be processed by the secretariat for financing of new nuclear power at the Ministry of Finance.
This is the first application, and according to preparatory dialogues held with various interested parties in recent months, more are likely to follow.
An application means that the work required for the government to be able to make a decision on support can begin.
Beyond the processing of the actual application, this process also involves negotiations between the Government and the company about the conditions and scope of the support.
A continuous dialogue with the European Commission Directorate-General for Competition then leads to a formal evaluation of whether the support is compatible with EU state aid rules. (press statement)