Ringhals Nuclear Power Plant

Key facts and timeline

• Shortlist & scope: Vattenfall has narrowed its suppliers to GE Vernova/Hitachi’s BWRX-300 and Rolls-Royce SMR, targeting ~1.5 GW of new nuclear on the Värö Peninsula (Ringhals area) in the early-2030s (either 5×BWRX-300 or 3×RR SMR). An additional ~1 GW on the adjacent Ringhals-1/2 site is under consideration as a next step. 

• Policy context: Sweden has lifted the 10-reactor/site constraints, set targets for two large reactors by 2035 and the equivalent of 10 reactors by 2045 (including SMRs), and introduced state loan guarantees to lower financing costs. 

Technology & deliverability (what matters for a buildable project)

1) Maturity and licensing

• BWRX-300 (BWR, ~300 MWe): At OPG’s Darlington (Canada), approvals now allow construction of the first of four units with the first unit planned before decade-end; hearings and EA applicability decisions provide a replicable licensing path. 

• Rolls-Royce SMR (PWR, ~470–500 MWe): Progressing through the UK Generic Design Assessment (now in Step 3) and selected by Great British Nuclear in June 2025 for three units, indicating growing institutional commitment. 

Interpretation: BWRX-300 benefits from near-term “in-construction” references; RR SMR shows strong momentum inside a European regulatory/industrial framework. Sweden can leverage both, but the engineering-licensing-supply chain loop is currently more codified for BWRX-300.

2) Site integration

• Unit count at ~1.5 GW: Five BWRX-300 vs three RR SMRs. More units help with outage staggering and flexible output, but raise multi-unit construction/operations coordination.

• Grid fit: SMRs staged into southern Sweden’s demand centres can anchor variability from renewables and support electrification, provided grid reinforcements and ancillary services are co-planned. 

3) Supply chain & localisation

• BWRX-300: Scale effects from Canada/US programs, with European prospects (e.g., Poland) building a broader component ecosystem. 

• RR SMR: GBN’s fleet-style procurement and UK manufacturing base point to factory-built, standardised delivery, with potential to network into Nordic modular construction capabilities. 

4) Financing & offtake

• State loan guarantees and legal reforms reduce capital costs; dialogue with Industrikraft (17 Swedish industrial companies) suggests room for long-term PPAs/capacity arrangements, improving bankability. 

Why this matters for Sweden and the Nordics

• System value: SMRs can serve as stable anchors in the south, complementing hydro and offshore wind while dampening price volatility and underpinning industrial electrification. The 2035/2045 milestones and sovereign support reduce first-of-a-kind risk premia. 

• European supply chain: A repeatable multi-unit build cadence at Ringhals would align Sweden with evolving UK/Canadian programs, accelerating European capacity in nuclear-grade components, I&C, large forgings and modular steelwork. 

Execution risks to watch

1. Permitting concurrency for multi-unit builds and the interface between Swedish practice and external design reviews.

2. Long-lead items (vessels, SGs, safety-class valves, digital I&C) and QA/QM traceability across borders. 

3. Cost of capital & risk allocation: Even with guarantees, EPC risk split will steer LCOE; PPAs/capacity payments plus phased commissioning can smooth cash flows. 

4. Local impacts & logistics during construction (marine works, cooling water systems, traffic), requiring close coordination with municipalities. 

Bottom line

For near-term constructability, BWRX-300 currently has the clearer “permit-to-build” runway thanks to Darlington. For European localisation at scale, RR SMR benefits from GBN’s fleet model and UK manufacturing mobilisation. Vattenfall’s final call will likely balance site/grid constraints, financing structure, and supply-chain windows rather than a purely technical preference.