IndustriKraft: The Swedish state acquires a majority stake in Videberg Kraft

The Swedish state buys 60 per cent of the shares in Videberg Kraft AB from Vattenfall, which retains a 20 per cent ownership stake and Industrikraft maintain 20 per cent. The agreement provides stable long-term ownership to enable new nuclear power in Sweden. The Swedish state, Vattenfall and Industrikraft have also agreed on the main terms and conditions for risk sharing and financing of Videberg Kraft.

“The government's decision to become the majority owner in Videberg Kraft is very welcome and brings all the best conditions to enable new nuclear power on the Värö Peninsula," says Desirée Comstedt, acting CEO of Videberg Kraft AB.

“Today’s announcement from the Government is extremely welcome news. New nuclear power requires very substantial investments and exceptionally long payback periods. State ownership is therefore crucial, as it provides both financial stability and a clear demonstration of long-term commitment,” says Karl-Henrik Sundström, newly appointed Chair of the Board of Industrikraft.

Nuclear power is not built anywhere in the world without government involvement. The next step is for the government to notify the European Commission for a state aid assessment. The new ownership structure will come into effect in 2027.

The Swedish state, Vattenfall and Industrikraft have also agreed on the main terms and conditions for risk sharing and financing of Videberg Kraft.

“This is an intensive build/up phase. The fact that there are agreements in place for risk sharing and financing is crucial for the project to happen," says Desirée Comstedt.

For further information, please contact: 
Catharina Jevrell, External Relations +46 70 313 23 26 Catharina.jevrell@industrikraft.se

About Industrikraft: Industrikraft is owned by Swedish industrial companies and provides a common platform for the owner companies to constructively contribute with their perspectives and expertise on energy issues. Industrikraft will work to ensure the long-term supply of electricity in Sweden. www.industrikraft.se