Rolls-Royce has been selected by Videberg Kraft as its partner to deliver three 470 MW PWR type reactors to a location on Sweden's west coast on the Varo Peninsula, next to existing Ringhals nuclear plant. The project backed by Vattenfall will build the country's first nuclear plant in more than 40 years. The project will deploy Rolls-Royce SMR nuclear plants to add about 1,500 MW of baseload capacity - around 6% of Sweden's annual power consumption - for more than 60 years. Videberg Kraft is a company set up by Swedish state power company Vattenfall and industrial consortium Industrikraft. Videberg Kraft's selection process ran for four years and evaluated more than 70 reactor options from eight vendors, with GE Vernova Hitachi's BWRX-300 as the final competing design before Rolls-Royce SMR was chosen. Ownership: Videberg Kraft is owned 80% by Vattenfall and 20% by Industrikraft i Sverige, which agreed in November 2025 to a 20% stake and a SEK 400 million (about $42.2 million) investment; on June 25, 2026 an agreement was reached for the Swedish state to acquire 60% of the company from Vattenfall, with Vattenfall and Industrikraft each holding 20%, the new structure planned to take effect in 2027. Videberg Kraft submitted the first application under Sweden's act on state aid for investments in new nuclear power on December 23, 2025, and in April 2026 the Swedish government proposed acquiring a 60% ownership stake with an initial capital injection of SEK 1.8 billion and up to SEK 34.3 billion during construction. Before the June 2026 vendor selection the project was reported as a choice between five BWRX-300 reactors from GE Vernova Hitachi or three Rolls-Royce SMR units. Expected output is about 12 TWh of fossil-free electricity per year, with the first unit entering operation in the mid-2030s. The project grew out of Vattenfall's Ringhals SMR programme, in which Vattenfall shortlisted two vendors, including Rolls-Royce SMR, in 2023 to deploy SMRs at the Ringhals site in the 2030s; Sweden has a goal of a fossil-free economy by 2045, and signed the 11-country EU nuclear declaration in 2024.