Azernews.Az

By Alimat Aliyeva

A new phase in Sweden's energy policy could begin as early as this fall, with the government planning to sign an agreement for the construction of new nuclear reactors for the first time in decades. This groundbreaking program would receive state support amounting to hundreds of billions of crowns, including preferential loans and guaranteed electricity prices, Azernews reports.

This initiative addresses both climate protection goals and the growing need for a reliable power supply for both industrial and domestic consumption. Energy shortages, particularly in the southern regions of Sweden, have become increasingly pressing, driving the need for a diversified energy mix.

Sweden's state-owned energy company, Vattenfall, has already begun preparations for the project and has expressed its intention to participate. However, the company has made it clear that building new reactors would not be feasible without significant government backing. The Swedish government aims to reach a final agreement on the deal by the end of the year.

Despite the potential benefits, the project faces significant political opposition. Several opposition parties have voiced concerns over the idea of subsidizing nuclear energy, with some arguing that it poses long-term risks. This disagreement raises questions about the stability of the project should there be a change in government. Energy Minister Ebba Busch has engaged in negotiations with opposition leaders, but these talks have so far failed to yield a consensus.

Construction of the new reactors is expected to take at least a decade, which poses a challenge given Sweden's steadily increasing electricity demand. While the country continues to pursue renewable energy sources, investment in onshore wind projects has slowed, and several offshore wind farm initiatives in the Baltic Sea have been scrapped, primarily due to concerns about their impact on Sweden's national defense capabilities.

Sweden's renewed interest in nuclear energy is part of a broader European trend, with countries like France and the UK also investing heavily in nuclear power as part of their strategies to achieve carbon neutrality and energy security. As the global energy landscape continues to evolve, Sweden’s approach could serve as a model for balancing sustainability with energy independence in an increasingly uncertain geopolitical climate.