Swedish utility to invest in nuclear reactors

IndustriesAssociated Press

Swedish utility Vattenfall will invest 900 million kronor ($107 million) to update two reactors at Sweden's largest nuclear plant, saying the Ringhals facility will continue to supply electricity into the 2040s.

Torbjorn Wahlborg, a senior executive vice president at Vattenfall, said Friday that the company was "adding a further safety system to plants that are already safe." Vatenfall last year sold off German coal plants and has heavily invested in wind energy in Germany.

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Located south of Goteborg, Sweden's second largest city, Ringhals' four reactors can generate some 28 billion kilowatt-hours of electricity, or approximately one fifth of the total Swedish electrical energy consumption.

Sweden has a total of 10 reactors, providing about half of the country's electricity production.