STOCKHOLM (CHATNEWSTV) — Sweden’s government is considering establishing a state-owned investment company to accelerate its nuclear expansion, according to a new report by the National Nuclear New-build Coordinator. The move is aimed at ensuring cost efficiency and reducing taxpayer risks as the country seeks to meet its ambitious energy targets.
“By investing in multiple projects under a unified financing model, we can avoid inefficiencies and maximize learning benefits,” Carl Berglöf, the coordinator, said in the report released Tuesday.
The proposal is part of Sweden’s broader roadmap to expand nuclear power, with a goal of adding 2,500 megawatts by 2035 and up to 10,000 megawatts by 2045. The government sees nuclear as key to achieving a fully fossil-free energy system by 2040.
Berglöf’s report outlines how a state-backed firm could play a crucial role in the expansion, investing in multiple projects while coordinating supply chains and skills development with neighboring countries. It also stresses the need for streamlined permitting processes, an issue the government has struggled with.
“There is a clear risk that fragmented projects will lead to inefficiencies,” the report warns, adding that a coordinated approach could lead to significant cost savings.
The government has already allocated 30 million SEK ($2.9 million) for nuclear expansion efforts in its 2025 budget, with further increases planned for the coming years. However, industry experts caution that regulatory hurdles could still delay construction.
“If Sweden wants nuclear power online by 2035, the permitting process must be significantly more efficient,” said an energy analyst familiar with the report.
While the proposal awaits further government review, momentum for nuclear power is growing. Eleven municipalities have already received state funding to develop local permitting procedures, and discussions are underway to collaborate with other European nations on reactor technology and supply chain logistics.
Despite the push, challenges remain. The Swedish Radiation Safety Authority is still conducting regulatory reviews, and questions persist about whether private utilities will fully commit to nuclear investments.
“The government is doing its part to lay the groundwork, but ultimately, the industry must step up,” Berglöf said.
