Vattenfall's Videberg Kraft seeks state aid for new nuclear power investment
The project company Videberg Kraft, set to build and operate nuclear reactors, has filed an application for state aid to invest in new nuclear power on Sweden's Värö Peninsula. This application has been submitted to the Swedish Government, marking a significant step towards the project's realization. Industrikraft has partnered with Vattenfall, acquiring a 20% stake in Videberg Kraft, with plans to finalize the transaction in January 2026, pending approval from the Swedish Inspectorate for Strategic Products.
On December 23rd, Desirée Comstedt, CEO of Videberg Kraft, submitted a financing and risk-sharing application to the Swedish Government. This application adheres to the framework outlined in the Government Bill on Financing and Risk Sharing in New Nuclear Power, which was adopted by the Swedish Parliament in May 2025. The bill includes provisions for state aid to support companies investing in nuclear reactors.
The project's focus will be on developing and owning the reactors on the Värö Peninsula, as stipulated in the financing and risk-sharing framework. Negotiations regarding project conditions will commence once the Swedish Government Offices process the application. Upon reaching an agreement, the government may initiate the formal state aid process with the European Commission, following a similar approach to the recent Polish application approval.
Desirée Comstedt, VP of New Nuclear at Vattenfall and CEO of Videberg Kraft, expressed enthusiasm for the application's submission, emphasizing the importance of governmental risk-sharing for the project's success. Videberg Kraft plans to utilize either GE Vernova Hitachi's BWRX-300 reactors or Rolls-Royce SMR's reactors, aiming for a total output of approximately 1,500 MW. The final supplier decision is scheduled for 2026, following an intensive evaluation process.
For further inquiries, contact Vattenfall's Press Office at 08-739 50 10 or via email at press@vattenfall.com.
