Nuclear financing

The Government has received another application for state aid to build new nuclear power in Sweden. The application was submitted by Blykalla, a company seeking to establish a new nuclear power plant in Norrsundet, outside Gävle. This is the second application for state aid received by the Government.

New nuclear power is a long-term undertaking for society. It requires investments from both the private sector and the state. In the Spring Amending Budget for 2026, the Government proposes state majority ownership of Videberg Kraft AB and that the state assumes a role in the financing of the future system for radioactive waste management and spent nuclear fuel by reducing risk for those who make the initial investments. Those who produce the waste should also continue to be responsible for their share of the costs.

The Government has received the first application for state aid to build new nuclear power in Sweden. Videberg Kraft AB has applied for support to build new reactors on the Värö Peninsula at Ringhals. The company is backed by Vattenfall AB and several large Swedish industrial corporations under Industrikraft i Sverige AB.

For over a century, Sweden and the Nordic-Baltic countries have built energy systems that powered prosperity, independence, and competitiveness. Now, the region aims to build new nuclear power to secure electricity for families, for industry, and to strengthen competitiveness and security.

Since 1 August 2025, companies seeking to build nuclear reactors in Sweden have been able to apply for state aid. In the Budget Bill for 2026, the Government has proposed economic frameworks that enable agreements on the initial projects to be concluded.

On October 7, the Government held the Nordic-Baltic Nuclear Investment Summit. Minister for Energy, Business and Industry Ebba Busch hosted the Summit together with Finland’s Minister of Climate and the Environment Sari Multala. Participants in the Summit included six ministers and more than 200 representatives of companies from the nuclear energy and finance sectors of four continents.

On 7 October 2025, Sweden’s Minister for Energy, Business and Industry Ebba Busch and several ministerial colleagues will host a high-level summit on new nuclear energy in the Baltic Sea region. Finland’s Minister of Climate and the Environment Sari Multala will co-host the event.

Sweden needs new nuclear power to cover energy needs, provide a secure supply of electricity to the national grid and carry out the energy transition. As of 1 August 2025, companies seeking to build reactors will be able to apply for state aid. The Government has now approved a new ordinance regulating the application process.

Sweden faces considerable problems with volatile electricity prices for households and businesses and imbalances in the electricity system. To deal with this, the fossil-free base load needs to be expanded. In March 2025, the Government adopted the Financing and risk sharing in new nuclear power Government Bill, which included proposals for state aid to companies that want to invest in nuclear reactors. The Riksdag has now decided to adopt the Government’s proposal.