Sweden’s state-owned energy giant Vattenfall has officially narrowed its selection to two key partners—GE Vernova (GEV) from the United States and UK-based Rolls-Royce SMR—for the construction of small modular reactors (SMRs) at the existing Ringhals nuclear site. This decision marks a pivotal moment in Sweden’s energy transition and represents the country’s first major nuclear construction project in over four decades.

The initiative, which began with a broad evaluation of 75 potential suppliers, will see Vattenfall move forward with in-depth discussions and risk-sharing negotiations with both companies. The final selection, expected in the coming years, will lead to the deployment of multiple SMR units with a combined capacity of up to 1,500 MW. According to Vattenfall, the choice reflects a strategic shift toward standardized, scalable nuclear technology that balances cost efficiency and operational flexibility.

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GE Vernova brings to the table its BWRX-300, a 300 MW boiling water reactor that draws on proven nuclear engineering principles while incorporating modular construction techniques to reduce both timeline and capital expenditure. Currently, the first BWRX-300 unit is under construction at Ontario Power Generation’s Darlington site in Canada, providing a real-world reference for its scalability and regulatory compliance.

Rolls-Royce SMR, on the other hand, offers a 470 MW pressurised water reactor designed for high output and operational efficiency. The company has already been named the preferred bidder for the UK’s SMR programme, reinforcing its credibility and technical maturity. Each reactor design has been selected based on its compatibility with Vattenfall’s existing fuel supply chains and the physical and infrastructural conditions at the Ringhals site.

Vattenfall has outlined two potential configurations: five units of GEV’s BWRX-300 totalling 1,500 MW, or three units from Rolls-Royce SMR yielding 1,410 MW. The company has also signaled plans to expand SMR capacity at Ringhals by an additional 1,000 MW in subsequent phases, underscoring long-term commitments to nuclear as a cornerstone of Sweden’s clean energy system.

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A key advantage of SMR technology, as emphasised by Vattenfall, is the potential for series construction of smaller units rather than relying on traditional mega-projects. This approach reduces upfront capital risk, simplifies logistics, requires fewer personnel, and shortens construction timelines. It also allows for incremental capacity expansion, providing grid stability and supporting integration with renewable energy sources.

Anna Borg, CEO and President of Vattenfall, described the announcement as “another step on the way towards the first Swedish nuclear power construction in over 40 years.” She stressed that the goal is not merely to add capacity, but to do so within a reasonable budget and timeframe while maintaining the highest safety standards.

The Ringhals nuclear power plant, located on the Värö Peninsula south of Gothenburg, is one of Sweden’s three nuclear sites and currently hosts two operational reactors. Nationwide, nuclear power accounts for 28.6% of electricity generation, a share the government aims to increase significantly under its new energy strategy. In November 2023, the government announced targets to add the equivalent of two new reactors by 2035, followed by a “massive expansion” by 2045.

To facilitate this, the Swedish parliament has approved a framework for state-backed risk-sharing mechanisms aimed at incentivizing private investment in nuclear energy. Vattenfall’s application for such support will be critical in mitigating financial exposure and ensuring the economic viability of the SMR project.

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The selection of GE Vernova and Rolls-Royce SMR also highlights a broader European trend toward regional technological collaboration. Both companies bring extensive international experience and have active projects in North America and the UK, creating opportunities for knowledge transfer and supply chain alignment.

As Vattenfall moves into the next phase of its supplier selection process, attention will turn to regulatory approvals, environmental assessments, and community engagement. The company has reiterated its commitment to transparency and stakeholder involvement as it navigates the complexities of new nuclear development.

With Sweden striving to achieve 100% fossil-free electricity production, new nuclear capacity—and SMRs in particular—is set to play an indispensable role in ensuring reliability and decarbonising the energy system. Today’s announcement signals that Vattenfall is positioning itself at the forefront of that transition.

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