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Sweden's Vattenfall Picks Rolls-Royce SMR for Nuclear Power Project

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Swedish utility Vattenfall said on Monday that it was selecting UK-based Rolls-Royce small modular reactors over its US rival, GE Vernova (GEV), to supply small modular reactors for its nuclear power project on the Varo Peninsula.

According to the company's press release, Rolls-Royce was selected from over 70 different options, in a process that took over four years, in what is set to be the country's first turn towards nuclear energy in over four decades, in its bid to decarbonize and strengthen economic competitiveness.

Vattenfall noted that Rolls-Royce SMR offers an efficient and industrialized concept, with a proven pressurized water reactor technology. As the construction takes place in an industrialized and controlled environment, it reduces delays.

"We are very pleased to announce that Rolls-Royce SMR has been selected by Videberg Kraft," said Martin Darelius, the acting head of new nuclear at Vattenfall, who also added that the company offers "the strongest conditions for delivering a successful project."

The British government too had lobbied in favor of the multi-billion-pound deal Rolls-Royce, with Prime Minister Keir Starmer calling it a "major win for Britain's economy," as it highlights the country's technology and innovation in helping drive Europe's clean energy transition.

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