The project company Videberg Kraft, that will build and operate nuclear reactors, is applying for state aid for an investment in new nuclear power on the Värö Peninsula on the West coast of Sweden. The application has been submitted to the Swedish Government. Industrikraft has entered into an agreement with Vattenfall to acquire a 20 percent stake in Videberg Kraft.
On Tuesday, 23 December, Videberg Kraft’s CEO Desirée Comstedt submitted an application for financing and risk-sharing to the Swedish Government. This marks the next step towards new nuclear power on the Värö Peninsula.
The application is written in accordance with the framework for financing and risk sharing that is set out by the Government Bill on Financing and Risk Sharing in New Nuclear Power – a bill that was adopted by the Swedish Parliament (the Riksdag) in May 2025. The model encompasses provisions for state aid to companies seeking to invest in nuclear reactors.
As previously announced, nine companies within the consortium Industrikraft have entered into an agreement with Vattenfall to formally acquire a 20 per cent stake in Videberg Kraft. The aim is to complete the transaction in January 2026, provided that the Swedish Inspectorate for Strategic Products approve the acquisition.
As stated in the conditions in the financing and risk sharing framework, the sole focus for Videberg Kraft will be to develop and own the reactors on the Värö Peninsula.
Negotiations regarding the conditions that will apply to the project will begin once the Swedish Government Offices have processed the application. When an agreement between the state and Videberg Kraft has been reached, the government may initiate the formal state aid process with the European Commission. The Commission recently approved the Polish application for financing of the construction and operation of Poland's first commercial nuclear power plant, declaring it compatible with EU state aid rules.
“We are pleased that Videberg Kraft is now taking a significant step towards enabling an investment in new nuclear power by submitting an application for state aid. Governmental risk-sharing will be pivotal for the project,” says Desirée Comstedt, VP of New Nuclear at Vattenfall and CEO of Videberg Kraft.
Videberg Kraft is planning a project with either five BWRX-300 reactors from GE Vernova Hitachi or three reactors from Rolls-Royce SMR, which will provide a total output of approximately 1,500 MW. There is currently an intensive evaluation process of the two remaining suppliers, and a decision on the final supplier is planned for 2026.
For further information, please contact:
Vattenfall’s Press Office, 08-739 50 10, press@vattenfall.com
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