November 17, 2023
1 min read

Sweden’s Ambitious Plan for “Massive” Expansion of Nuclear Power

An economic model for risk-sharing between the state and the investors in new nuclear infrastructure will also be developed…reports Asian Lite News

Sweden is planning a “massive” expansion of new nuclear power, the government said, adding that by 2045, it wants the country to have the equivalent of 10 new reactors, two of which will already be operational by 2035.

This will mean “a historic restructuring of Sweden’s energy policy”, Energy Minister Ebba Busch said at a press conference outlining the policy shift from 100 per cent renewable to 100 per cent fossil-free electricity generation.

“We have to double electricity production within 25 years,” Xinhua news agency quoted the Minister as saying.

To achieve this goal, the limitation on the number of nuclear reactors is lifted and the permitting processes for new reactors will be streamlined and speeded up, she said.

The government has also decided to introduce credit guarantees for investments in new nuclear power, Busch said.

An economic model for risk-sharing between the state and the investors in new nuclear infrastructure will also be developed.

Busch said the expansion was urgent to meet the increasing demand for electricity as the green industries develop and also because “the electricity system has never been as fragile as it is now”.

She recalled that the grid nearly collapsed due to imbalances last winter.

Last year, 170 terawatt hours (TWh) of electricity were produced in the country, of which 69 per cent came from renewables, according to Statistics Sweden.

Hydroelectric power accounted for 41 per cent of the total output, while nuclear and wind accounted for 29 per cent and 19 per cent, respectively.

According to the Swedish Energy Agency, the country’s electricity consumption may double to 280 TWh per year by 2035 and increase further to 370 TWh by 2045.

ALSO READ-Quran Burning In Sweden Sparks Saudi Outrage

Previous Story

Germany braces for nationwide rail strike

Next Story

New Orleans Takes Drastic Steps to Address Homelessness

Latest from -Top News

WUC Intensifies Global Call for Uyghur Justice

WUC delegation undertook a week-long advocacy tour in Germany, where it met with Turkish NGOs and community leaders….reports Asian Lite News The World Uyghur Congress (WUC) has published its monthly brief, strengthening

India Urges Bangladesh to Act on Minority Attacks

MEA spokesperson Randhir Jaiswal urged the Yunus government to probe extremist attacks on minorities….reports Asian Lite News India on Friday criticised recent comments by Bangladesh’s Home Advisor Jahangir Alam Chowdhury, asserting that

Jaffar Express Targeted Yet Again

blast happened at a distance of one kilometre from the Sultan Kot railway station….reports Asian Lite News At least seven injured as blast hits Quetta-bound Jaffar Express in Sindh’s Shikarpur district. Shikarpur

India to Join G20 Energy Talks in South Africa

The meeting is being hosted under South Africa’s G20 Presidency in the country’s KwaZulu Natal province…reports Asian Lite News Union Power Minister Manohar Lal will represent India at the G20 Energy Transitions
Go toTop

Don't Miss

Bosnia and Herzegovina gets EU candidate status

BiH is now ready to open negotiations with the EU

2022 SPECIAL: Strategic Autonomy At Stake

In June, Biden repeated the slogan “America is back” several