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Vattenfall and Industrikraft i Sverige AB signed an agreement on Nov. 10 to co-invest in small modular reactors (SMRs) at the Ringhals site in Sweden. Industrikraft, formed in June 2024, will acquire a 20% stake in Videberg Kraft AB and invest SEK 400 million ($42.2 million) for early-stage development.

Vattenfall is considering GE Vernova-Hitachi's BWRX-300 and Rolls-Royce SMR designs for a potential 1,500 MW project. An application for state risk-sharing will be submitted before a final supplier is selected.

Additionally, the World Nuclear Association's preview of the World Nuclear Outlook Report 2025 forecasts global nuclear capacity could reach 1,428 GWe by 2050, with significant contributions from countries like China, France, India, Russia, and the U.S. Meanwhile, California's battery storage capacity reached a record 16,942 MW, contributing to the state's clean energy goals and avoiding Flex Alerts. TotalEnergies signed a 15-year PPA with Google for renewable electricity from its Montpelier solar farm in Ohio, and Unit 2 of China's Zhangzhou nuclear project connected to the grid, marking a milestone in indigenous reactor technology.