An Initiative by Leading Swedish Industrial Companies
Industrikraft is owned by Swedish industrial companies and works to ensure the long-term supply of fossil-free electricity in Sweden.
Of Industrikraft’s 17 partner companies, nine are taking a step closer to new nuclear power
Industrikraft i Sverige AB was established in June 2024 to support Sweden’s electricity supply across all fossil-free energy sources and to enable the development of new nuclear power in Sweden for the first time in 40 years. Less than 18 months later, Industrikraft has presented a comprehensive energy system analysis and signed an agreement with Vattenfall, paving the way for the next phase of new nuclear power at Värö Peninsula. Of Industrikraft’s 17 companies nine will continue to pursue the development of new nuclear power at Värö Peninsula, ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs AB, Saab, Stora Enso, SSAB and the Volvo Group.
Industrikraft is now owned by ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs AB, Saab, Stora Enso, SSAB and the Volvo Group.
As part of Industrikraft’s work, several policy proposals have been presented outlining how Sweden’s future energy system should be designed. Wind power has an essential role to play in this, as all owners share the goal of advancing electrification. At the same time, it has been clear from the start that not all companies wished to participate as owners in the nuclear power project. For Afry, Alleima, Billerud, Epiroc, SKF, Södra, Vectura and Volvo Cars, the engagement in developing the energy system now continues in other forms.
More information and updates are available here:
About Industrikraft
Industrikraft currently consists of Swedish companies with broad representation across all industrial sectors, enabling constructive dialogues on how Sweden's energy system should be financed, secured, and expanded.
Board of Directors
The board comprises Håkan Buskhe, Tom Erixon (Chairman), Martin Lundstedt, Mikael Staffas, and Carl-Henric Svanberg.
The competitiveness of Swedish industry has historically been built on a stable and sustainable electricity system with low prices. The transition from fossil-based to fossil-free electricity production, driven by nuclear power expansion in the 1970s, further strengthened this position. Over the past 40 years, electricity consumption has remained relatively stable, with hydropower and nuclear power accounting for 80% of the electricity supply.
In recent years, wind and solar power have been added, bringing climate benefits but also challenges that have affected prices, distribution, and usage. The need for energy storage and greater flexibility has grown, but progress has lagged, hindered by high costs and a lack of sustainable business models.
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