ARKANSAS, Nov 19 (Future Headlines)- Uniper, a German energy company and majority owner of Sweden’s Oskarshamn nuclear plant has clarified that it currently has no plans to invest in new nuclear reactors in Sweden. This decision comes despite a strong push by the Swedish government, particularly the center-right coalition, to encourage investments and expand the country’s nuclear power production. The government views nuclear power as a crucial element in meeting the anticipated increase in electricity demand, especially as various sectors transition away from fossil fuels.

The center-right government in Sweden advocates for nuclear power as the preferred solution to address the surge in electricity demand. As industries and transportation sectors move away from fossil fuels, the government sees nuclear power as a reliable and low-carbon alternative. The strategy aims to ensure a stable and sufficient electricity supply while minimizing environmental impact.

Uniper, while being the majority owner of the Oskarshamn nuclear plant and holding stakes in other nuclear facilities in Sweden (Ringhals and Forsmark), has explicitly stated that it does not currently have plans to invest in new nuclear power projects. Desiree Liljevall, a spokesperson for Uniper, emphasized the company’s focus on assessing the possibility of extending the lifespan of the Oskarshamn 3 reactor.

Uniper outlined its commitment to investing in the “green transition,” with plans to allocate a significant portion of the 8 billion euros ($8.70 billion) earmarked for this purpose to Sweden. While Uniper has ruled out new nuclear projects for now, the company is evidently dedicated to contributing to Sweden’s sustainable energy goals through other avenues.

The Swedish government announced its intention to bolster electricity supply by the equivalent of two new full-sized reactors by 2035. The potential inclusion of small modular reactors (SMRs) is being explored as part of the strategy. SMRs, being smaller and more flexible, offer advantages in terms of scalability and deployment in various locations.

In the pursuit of expanding nuclear power capacity, the government is evaluating options to share the financial burden of building and operating new nuclear plants. The existing offers of loan guarantees are deemed insufficient as incentives. This highlights the government’s recognition of the financial challenges associated with nuclear projects and its commitment to creating a favorable environment for potential investors.

Uniper’s decision not to invest in new nuclear reactors at present underscores the complexities and considerations involved in aligning corporate strategies with national energy goals. While the Swedish government sees nuclear power as a crucial component of its energy transition, individual companies may evaluate various factors, including economic viability and regulatory considerations, in shaping their investment plans. The ongoing dialogue between the government and energy companies reflects the broader challenge of striking a balance between national energy objectives and the perspectives of potential investors in the rapidly evolving landscape of the energy transition.

Editing by Sarah White