Studsvik wants state support for building 1,400 MW of nuclear power in Sweden

The Swedish government is promoting nuclear energy to ensure the security of the supply of the country.

The centre-right Government has made a range of offers, including loans up to 440 billion crowns (47 billion dollars), 40-year price guarantee and support for the management of nuclear waste. This is to encourage construction of a minimum of 5,000 MW nuclear capacity. The government's offer would help to meet the increased electricity demand that analysts predict will double in the country by 2045.

Studsvik, after Blykalla & Vattenfall, is the third applicant for the government scheme.

Karl Thedeen said that "new nuclear" is now moving from policy to industrial execution. He added that the new capacity was needed to replace Sweden's ageing baseload capacity and to support industrial growth.

The nuclear project is "very risky", he said, and therefore the involvement of the state in it was crucial.

Studsvik has applied for a maximum of 1,400 MW in light-water modular reactors in southern Sweden. He said that several sites are being developed simultaneously, but he did not give a number for the funding.

Thedeen said that "we have some indications from the partners we're currently talking with, but they need to also?firm up" before we can have that full scope.

He said that without naming any names, Studsvik intended to form a consortium of reactor technology providers, private investors and also to look at 'how to get the state to fund a special company to manage the project.

Rival Vattenfall created a company, and the government said that it would take a direct interest.

The government, nuclear regulator, environmental court, and the European Union will all need to approve any?new reactors.

The majority of Sweden's electricity is produced by hydropower, wind farms, and nuclear power plants. (Reporting and editing by Barbara Lewis; Nora Buli)

(source: Reuters)