The initiative is being carried out in collaboration with energy partners, including Vattenfall and the developer Kärnfull Next, according to the Financial Times. The Värö Peninsula on Sweden’s west coast has been selected as the site for the future plant. The new capacity is expected to focus on supplying electricity to industry and households in the country’s southern regions.
The selection of the supplier was the result of a multi-stage selection process that began in 2022. The current phase involves advancing the project and preparing for its further implementation.
The value of the agreement has not been officially disclosed. At the same time, the UK government has called the project a “major export victory” valued at billions of pounds, noting its importance for employment and the strengthening of industrial cooperation between the UK and Sweden.
Rolls-Royce CEO Tufan Erginbilgic stated that the Swedish partner’s participation reaffirms the company’s position as one of Europe’s leading developers of small modular reactor technology.
The project in Sweden complements Rolls-Royce SMR’s international portfolio. Previously, the company signed an agreement with the Czech energy group ČEZ to develop the first SMR in the Czech Republic, and is also collaborating with Great British Energy – Nuclear as part of a program to deploy small reactors in the UK.
At the European Union level, SMRs are viewed as a promising low-carbon technology capable of strengthening energy security and supporting decarbonization. In March 2026, the European Commission approved a strategy for the accelerated development of this sector with the aim of reducing regulatory barriers.
According to estimates by the International Energy Agency, with favorable policies, more than 1,000 small modular reactors could be deployed worldwide by 2050. The total investment in the sector is estimated at approximately $670 billion.
