Vattenfall (VF) Status Update summary

Supplier selection and evaluation process

• Two suppliers, GE Vernova and Rolls-Royce SMR, have been chosen to proceed for new modular nuclear reactors on the Värö Peninsula, narrowed down from an initial pool of 75.

• Evaluation focused on technology, site and logistics, and commercial aspects, with emphasis on proven technology, manageable logistics, and cost efficiency.

• Both selected SMR designs offer simplified construction, lower investment costs, and the ability to build multiple units in series, reducing risk and learning costs.

• The Värö Peninsula was chosen for its grid capacity, infrastructure, and nuclear expertise, though it presents space and environmental challenges.

• Key criteria included supplier experience, technological maturity, supply chain development, financial status, and licensing potential in Sweden.

Project scope and future steps

• A project with five GE Vernova SMRs or three Rolls-Royce SMRs could deliver about 1,500 MW, with potential for an additional 1,000 MW in a future phase.

• The Swedish Parliament's financing and risk-sharing model is expected to support the investment framework.

• The next steps include applying for state risk-sharing, deepening negotiations with the two suppliers, and preparing environmental and nuclear technology applications.

• Collaboration with the Industrikraft consortium continues, with several member companies interested in joint investment.

• A press seminar will provide further details on the decision and next steps.