2023-11-16 22:50:00
STOCKHOLM, Nov. 16 (Xinhua) — Sweden plans a “massive” expansion of its new nuclear energy capacities, the Swedish government announced Thursday, which wants the country to have the equivalent of 10 new reactors, 2 of which will already be operational by 2035.
This would be a “historic restructuring of Swedish energy policy”, indicated the Minister of Energy, Trade and Industry Ebba Busch, referring to the change in policy of 100% electricity production. % 100% renewable without fossil fuels, during a press conference.
“We need to double electricity production within 25 years,” she continued, adding that to achieve this goal, the limitation on the number of nuclear reactors will be lifted and the licensing processes for new reactors will be streamlined and accelerated.
The government has also decided to introduce credit guarantees for investments in new nuclear energy and an economic model of risk sharing between the State and investors in new nuclear infrastructures will also be developed, Ms. Busch recalled.
According to the minister, this expansion is urgent to meet the growing demand for electricity as green industries develop and also because “the electricity system has never been as fragile as it is today”. The network nearly collapsed last winter due to imbalances, she noted.
According to Swedish statistics, 170 terawatt hours (TWh) of electricity were produced in the country last year, of which 69% came from renewable energy. Hydroelectric power accounted for 41% of total generation, while nuclear and wind power accounted for 29% and 19%, respectively.
The country’s electricity consumption might double to 280 TWh per year by 2035 and increase further to 370 TWh by 2045, according to the Swedish Energy Agency. END
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