Swedish renewable energy company Vattenfall has taken significant steps towards the development of new nuclear reactors adjacent to the Ringhals nuclear power plant (NPP) in Sweden.

The company is evaluating proposals for small modular reactors (SMRs) from Rolls-Royce SMR [small modular reactors] and GE Hitachi Nuclear Energy while exploring the feasibility of constructing large-scale reactors at the site.

The next phase will involve a comprehensive analysis of the proposals from the two shortlisted SMR suppliers.

Vattenfall aims to establish a timeline for potentially deploying SMRs to facilitate new nuclear power generation on the Värö Peninsula.

It is also considering proposals for large-scale nuclear reactors. The suppliers in this segment of the evaluation include Westinghouse, EDF and KHNP.

The initiative is part of Vattenfall's broader strategy to expand its nuclear energy capabilities and contribute to Sweden's energy mix.

Vattenfall nuclear power head Desirée Comstedt stated: “Shortlisting two potential suppliers of small modular reactors is one of several steps in our continued work towards new nuclear power on the Värö Peninsula at Ringhals.

“It is also a prerequisite for us to be able to continue to move forward at speed with the extensive work involved, which requires us - among other things - to submit applications for new nuclear reactors for examination by the responsible Swedish authorities.

“We haven't made a choice of reactor technology yet. Regardless of whether we choose small modular reactors or large-scale reactors, a future investment decision will, among other things, require a reasonable risk-sharing model with the state.

"This is necessary to lower financing costs and thereby enable a reasonable cost for electricity production that customers are prepared to pay.”