The wave of new nuclear energy production has swept across the international energy landscape in recent months and has resulted in a nuclear renaissance that has the potential to revive the nuclear sector across several international markets. Sweden is aiming to construct its first nuclear facility in over 40 years in the Värö Peninsula, which sits along the West Coast of the European nation. The process of selecting suppliers for SMRs has been a long and arduous one, but the state-owned Vattenfall has narrowed the selection down to two suppliers.
Vattenfall selects America’s GE Vernova and the UK’s Rolls-Royce as the two candidates
Vattenfall has spent an exceedingly long time considering the implications of the new nuclear project in Sweden, and has narrowed down the list of possible suppliers of SMRs from around 70 candidates to just two. The US-based GE Vernova and the UK’s giant Rolls-Royce are the two candidates that have the necessary expertise and SMRs to meet the unique requirements for the nuclear facility in Sweden.
GE Vernova and Rolls-Royce both produce efficient small modular reactors that have the potential to develop the project within a reasonable timeframe while sticking to a specified budget. The selection process has been influenced by the rather unique requirements for the nuclear project that will sit at the existing Ringhals site in the Värö Peninsula.
“A successful project also lays the foundation for further nuclear developments. We are already looking at the next step to build additional reactors where Ringhals 1 and 2 are currently located.” – Anna Borg, CEO and President, Vattenfall
The advancement of the project will be a major step for the Swedes, as the nation aims to become the latest European nation to develop a remarkable nuclear energy infrastructure to meet its clean energy and emission targets by the end of the decade.
The evaluation process to select the main supplier has been determined by three main factors
The three main evaluation factors were: technology, site and logistics, and commercial aspects. These have influenced Vattenfall’s decision to earmark GE Vernova and Rolls-Royce as the two main candidates for the SMR development. The region that has been selected by the Swedish government for the new nuclear facility is among the best locations for clean energy production due to its accessibility to the national grid.
The European revival of the nuclear sector has been gaining traction in recent years, with the United Kingdom selecting North Wales as the preferred site for its own SMR program. Vattenfall has noted that the next process will be to evaluate both GE Vernova and Rolls-Royce SMR to determine which supplier might meet the unique requirements for the project.
“Our focus now is to reach an agreement with the state on the parameters of the financing and risk-sharing model, and to conduct negotiations and a deepened dialogue process with the two remaining suppliers. There is no turnkey solution on the market when it comes to purchasing a new nuclear power plant. Much work remains, even after a final supplier selection, where a long-term, constructive, and positive collaboration with the supplier will be very important.” – Desirée Comstedt, Vice President and Head of New Nuclear at Vattenfall
The revival of the global nuclear sector comes with a few challenges
Chief among those challenges will be ensuring a smooth transition away from fossil fuel-based energy generation from the oil and gas sectors. Europe is leading the charge to revive the aging nuclear market, with the United States coming in right behind. With other European nations beginning the process of accelerating their own nuclear ambitions, such as France, which has recently begun land acquisition for its first Generation IV nuclear demonstration reactor, the future of the nuclear energy sector is looking as bright as the sun.
