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Sweden to build new nuclear plants

Swedish state-owned energy giant Vattenfall plans to build new nuclear reactors in Sweden.

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Vattenfall, Europe's fifth-largest electricity producer, announced Friday its plans to build at least one new nuclear reactor in Sweden in a joint project with some of the countries leading industrial companies. The aim is to secure future energy production and electricity supply at competitive prices.

"At the heart of the collaboration is the shared view that there will be a shortage in baseload power once Sweden’s nuclear plants are decommissioned", the energy company said in a statement.

The plants will be made in collaboration with Industrikraft Sweden, a newly formed company owned by metal company Boliden and paper and forest firms Stora Enso, Holmen, SCA Forest Products, and Eka Chemicals.

“In order to safeguard welfare and jobs, Sweden’s basic industries are dependent on access to electricity at competitive prices, so it is only natural that we are partnering up with an electricity producer,” says Magnus Hall, Chairman of Industrikraft.

In February Sweden’s government agreed that it would be allowed to build new reactors in Sweden.

Opposition parties the Green Party and the Left Party slammed the new planed nuclear power plants as a "misery" and a "betrayal".

Vattenfall runs seven of Sweden's ten reactors; three in Forsmark and four in Ringhals. 

On Tuesday Vattenfall posted a 37 percent fall in third-quarter operating earnings on and said it did not expect any rapid recovery in energy demand.

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Last Updated (Friday, 30 October 2009 14:00)

 

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