Sweden bets on nuclear power for green growth

(Dan Tri) - Once considered a "forbidden zone", nuclear energy is making a spectacular comeback on the global energy chessboard, under a new title: a potential solution for sustainable development goals (ESG).

The story begins not at a power plant, but with a visit to Singapore by Swedish Deputy Prime Minister Ebba Busch. Her message was clear: To electrify the economy and cut emissions, Sweden would bet big on “next-generation nuclear power.”

This statement is an affirmation of a trend that is reshaping the business and financial strategies of many countries. From a controversial choice, nuclear is being re-evaluated as a strategic "move" in the ESG (Environment - Social - Governance) chess game.

Sweden's efforts to expand nuclear power stem from the goal of balancing economic growth and emissions reductions, said Swedish Deputy Prime Minister Ebba Busch (Photo: Reuters).

At the core of this change is the “E” (Environmental). Countries committed to Net Zero targets are facing a harsh reality: renewable energy like wind and solar, while clean, is inconsistent and dependent on the weather. Meanwhile, electricity demand is expected to skyrocket due to the electrification of transport and industry.

Sweden, with six reactors providing around 30% of its electricity, has found that it cannot rely solely on hydro and wind to meet its future needs. Nuclear power, with its ability to provide a stable, large-capacity baseload source of electricity and virtually zero carbon emissions during operation, has emerged as an indispensable piece of the puzzle. This is the solution to the problem of ensuring energy security while fulfilling climate commitments.

The decisive push for nuclear’s return comes from technology. Instead of giant, expensive reactors that take decades to build, Sweden is moving toward small modular reactors (SMRs). SMRs are advanced nuclear reactors with a capacity of less than 300 MWe, about a third of the size of traditional reactors. They have many advantages from a business and investment perspective.

First, it is flexible and cheaper. The modules are mass-produced in the factory and then shipped to the assembly site, which significantly reduces costs and construction time (expected to be only 24-36 months).

Next is the safety factor. SMRs have a simpler design, integrating passive safety systems, relying on natural physical laws to cool and shut down the furnace in case of an accident, minimizing the risk of requiring human intervention.

SMRs are also suitable for a variety of terrains. Their compact size allows them to be built in areas that are not suitable for large factories, such as remote areas or industrial zones that require their own power source.

The Swedish government aims to build new nuclear reactors by 2045 to achieve net zero emissions (Photo: Microgrid).

Mr. David Broadstock, an expert from The Lantau Group, commented that SMR could be a "game changer", making nuclear power a much more attractive and viable investment option.

Sweden’s ambitions do not stop at national borders. Ebba Busch expressed her desire to turn Sweden into a “core hub” for the Nordic region, promoting international cooperation to reduce the cost of SMR technology and share experiences. The clean energy cooperation with Singapore is a prime example of the global impact of this strategy.

Sweden’s shift shows that in the race towards a sustainable future, old stereotypes are being re-examined. Nuclear power, once an environmental problem, could become a key part of the solution.

This gamble is strategic and if successful it could completely rewrite the global energy transition scenario.

Source: https://dantri.com.vn/kinh-doanh/thuy-dien-dat-cuoc-vao-dien-hat-nhan-de-tang-truong-xanh-20251104134144251.htm