Vattenfall: Swedish state to acquire 60% of Videberg Kraft

Transaction

The Swedish state is acquiring 60% of the shares in Videberg Kraft AB from Vattenfall. Vattenfall and Industrikraft will each retain a 20% stake. The parties say the ownership change will provide stable, long‑term ownership to enable new nuclear power on the Värö Peninsula.

Risk‑sharing and financing

The Swedish state, Vattenfall and Industrikraft have agreed on the main terms for risk‑sharing and financing of Videberg Kraft. The agreement follows lengthy negotiations based on the principle that the party best able to control a risk is responsible for it.

Stakeholder comments

Anna Borg, President and CEO of Vattenfall, said: “We are pleased that another important step towards new nuclear power has been taken today – through our agreement with the state on risk‑sharing, financing and future ownership of Videberg Kraft.” She added: “It is completely unique for an energy company to join forces with industry and the state in a shared ownership structure.” Desirée Comstedt, acting CEO of Videberg Kraft AB, said the government’s announcement that it will become the majority owner is “very welcome” and gives the conditions needed to enable new nuclear power on the Värö Peninsula.

Next steps

The government will notify the project to the European Commission for a state aid assessment. The new ownership structure will come into effect in 2027. On 15 June it was announced that Rolls‑Royce SMR will be the supplier of three modular reactors. The parties note that, globally, nuclear projects are not being built without state involvement.