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A project company owned by the Finnish energy group Fortum has applied for government support to build new nuclear reactors next to the existing nuclear power plant in Oskarshamn. This project comes in as Sweden gears up its clean energy infrastructure such as nuclear and wind energy in bid to achieve its sustainability goals.

“The application states that the project includes various alternatives with both smaller modular reactors (SMRs) and large-scale reactors. The electrical output in the different alternatives varies between 1,200 and 3,400 megawatts,” the Government Offices writes in a press release.

Other Companies Seek State Support for Nuclear Reactors

Also, Videberg Kraft, Blykalla, Studsvik and Nordic Baseload Power have previously applied for government support to build new reactors.

“Fortum is an established nuclear power player in both Finland and Sweden. The fact that it is setting up a project company in Sweden for the construction of new nuclear power shows that the Swedish support model is well balanced and serves its purpose,” says Minister for Financial Markets Niklas Wykman (M) in a comment.

Oskarshamn Nuclear Expansion: Project Factsheet

Project Factsheet: Oskarshamn Nuclear Expansion

Project Developer: Fortum (via a dedicated Swedish project company)

Location: Adjoining the existing nuclear power plant site in Oskarshamn, Sweden

Target Electrical Output: 1,200 to 3,400 Megawatts (MW) across various proposed configurations

Reactor Types Under Consideration:

• Small Modular Reactors (SMRs)
• Large-scale conventional reactors

Regulatory/Financial Status: Application submitted for government support under the Swedish nuclear power risk-sharing framework

Other Applicants in Framework: Videberg Kraft, Blykalla, Studsvik, and Nordic Baseload Power

Key Stakeholder Reaction: Supported by Swedish Minister for Financial Markets Niklas Wykman (M) as validation of the state’s nuclear support model

Project Team

Fortum: The parent Finnish energy group that owns and set up the dedicated Swedish project company to build the new reactors.

Videberg Kraft: An applicant company that previously submitted a proposal for government nuclear support.

Blykalla: A Swedish advanced nuclear technology developer that previously applied for state support.

Studsvik: A nuclear technology services firm that previously applied for state support.

Nordic Baseload Power: A energy development entity that previously applied for state support.