Energy

New nuclear power is a long-term undertaking for society. It requires investments from both the private sector and the state. In the Spring Amending Budget for 2026, the Government proposes state majority ownership of Videberg Kraft AB and that the state assumes a role in the financing of the future system for radioactive waste management and spent nuclear fuel by reducing risk for those who make the initial investments. Those who produce the waste should also continue to be responsible for their share of the costs.

The Government is now moving forward with an assignment for Svenska kraftnät, Sweden’s power grid authority, that allows for a planned renewal and upgrade of an electricity cable connection to Denmark to be put on hold. At the EU’s meeting of Energy Ministers in March, Swedish Minister for Energy, Business and Industry Ebba Busch announced that Sweden would halt new or upgraded electricity cable connections to continental Europe unless there was a shift in the focus of the legislation being negotiated in the European Commission’s European Grids Package.

Sweden participates in around 100 international climate initiatives and, together with India, co-leads the Leadership Group for Industry Transition (LeadIT). Since autumn 2025, Sweden has also served as Chair of the Global Carbon Pricing Challenge (GCPC).

Statement by Sweden’s Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch, 10 april, Stockholm.

Joint statement from the leaders of the United Kingdom, France, Germany, Italy, the Netherlands, Japan, Canada, Republic of Korea, New Zealand, Denmark, Latvia, Slovenia, Estonia, Norway, Sweden, Finland, Czechia, Romania, Bahrain and Lithuania on the Strait of Hormuz.

Statement by Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch at the Energy Council meeting in Brussels on 16 March 2026.

Sweden aims to take a leading role in artificial intelligence. The Government is now presenting a new AI strategy with the aim of providing more effective government agencies, clearer rules for businesses and better conditions for research. The objective is for Sweden to be among the world’s top 10 countries in the field of AI.

The Government has received the first application for state aid to build new nuclear power in Sweden. Videberg Kraft AB has applied for support to build new reactors on the Värö Peninsula at Ringhals. The company is backed by Vattenfall AB and several large Swedish industrial corporations under Industrikraft i Sverige AB.

On 8–10 December, 200 experts on nuclear power gathered in Stockholm for a workshop on small modular reactors (SMRs) organised by the Swedish Government and the OECD Nuclear Energy Agency (NEA). State Secretaries Maja Lundbäck and Daniel Westlén opened proceedings.

For over a century, Sweden and the Nordic-Baltic countries have built energy systems that powered prosperity, independence, and competitiveness. Now, the region aims to build new nuclear power to secure electricity for families, for industry, and to strengthen competitiveness and security.

Prime Minister Ulf Kristersson and Germany’s Federal Chancellor Friedrich Merz have signed an enhanced and expanded Strategic Innovation Partnership between Sweden and Germany. The Joint Declaration of Intent comprises new areas including foreign policy, capital market issues, migration and international development cooperation.

Joint Declaration of Intent on a Strategic Innovation Partnership between Sweden and Germany. Signed by Prime Minister Ulf Kristersson and Germany’s Federal Chancellor Friedrich Merz on 19 november 2025 in Berlin.

Strategic Partnership between Canada and Sweden. Signed by Prime Minister Ulf Kristersson and Canadian Prime Minister Mark Carney on 18 November 2025.

Canada and Sweden have entered into a Strategic Partnership, which was launched on 18 November, during the State Visit to Canada by Their Majesties The King and Queen. It builds on Canada and Sweden’s common interests and values, and will further deepen and broaden bilateral cooperation.

On 30–31 October, Minister for Energy, Business and Industry Ebba Busch visited Singapore. During the visit, Ms Busch met with Singapore’s Minister of Energy and Swedish companies operating in the country. In conjunction with the visit, two Memorandums of Understanding (MoUs) were also signed between companies and academia from Sweden and Singapore on green ammonia and quantum technology, respectively.

Since 1 August 2025, companies seeking to build nuclear reactors in Sweden have been able to apply for state aid. In the Budget Bill for 2026, the Government has proposed economic frameworks that enable agreements on the initial projects to be concluded.

On October 7, the Government held the Nordic-Baltic Nuclear Investment Summit. Minister for Energy, Business and Industry Ebba Busch hosted the Summit together with Finland’s Minister of Climate and the Environment Sari Multala. Participants in the Summit included six ministers and more than 200 representatives of companies from the nuclear energy and finance sectors of four continents.

Expanding nuclear power will play a crucial role in enabling Sweden to reduce its domestic climate emissions and achieve the goal of net zero emissions. The Government proposes amendments to the Swedish Environmental Code that will permit new nuclear power plants on more coastal sites. Under the proposals, protection of natural and cultural heritage will be maintained. The proposed legislative amendments are now the subject of a consultation.

In connection with the International Nordic-Baltic Nuclear Investment Summit held in Stockholm on 7 October 2025, several countries endorsed a joint written statement on the significant role of nuclear power in the energy system.

On 7 October 2025, Sweden’s Minister for Energy, Business and Industry Ebba Busch and several ministerial colleagues will host a high-level summit on new nuclear energy in the Baltic Sea region. Finland’s Minister of Climate and the Environment Sari Multala will co-host the event.