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Sweden Plans Investments in Nuclear Energy

November 17, 2023
EU Seeks Resolution to Nuclear Energy Conflict
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The Swedish government announced on Thursday its intention to increase nuclear energy production to advance the country’s energy transition and meet the growing demand for electricity. They presented a new roadmap for expanding production by the equivalent of two nuclear reactors by 2035, with substantial growth anticipated by 2045.

Energy Minister Eba Busch emphasized that the plan represents a further step towards Sweden becoming a “strong nuclear nation” once again. The government stressed that the plan would also ensure its success in the energy sector.

It is estimated that Sweden will need around 10 traditional nuclear reactors by 2045 to achieve these goals. Currently, Sweden operates six reactors in three different power stations, and in August, the government announced plans to remove any obstacles to building new reactors.

Finance Minister Elisabeth Svantesson stated that the project’s cost would be examined “as soon as possible.” However, Rolf Lindahl, a spokesperson for Greenpeace, cautioned about the potential for cost escalation, citing similar projects in France, Finland, and the United Kingdom that experienced significant cost increases and delays.

This announcement comes as European Union countries prepare for another winter with low Russian gas supplies, leading to higher electricity bills.

Tags: Energy
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