Fortum seeks Swedish state aid for new nuclear project in Oskarshamn

Fortum, through its subsidiary NuCore Energi AB, has formally applied for state financial support to develop new nuclear power capacity in Oskarshamn, Sweden. The proposed project, located near existing nuclear facilities on Ävrö, aims to provide a scalable power output ranging from 1,200 MW to 3,400 MW.

The company is considering multiple technological options, including Small Modular Reactors (SMRs) and conventional large-scale reactors. The final capacity will depend on technological choices, projected electricity demand, and the terms of the risk-sharing agreement with the Swedish government.

This application marks the fifth such request received by the Swedish government under its current nuclear financing program. The receipt of the application initiates a formal evaluation process and negotiations regarding the conditions of potential state support, which may include construction credits and risk-sharing mechanisms.