Will Sweden replicate the UK's model for expanding nuclear baseload?

Sweden is one of the few European Union countries with offshore wind potential to not provide state-backed support for this asset class, but the same government appears to be doubling down on the build out of new nuclear capacity. As other EU countries, with both nascent and established offshore wind economies, fast track policy in a bid to encourage offshore wind investment, Sweden has opted to put most of its eggs in the nuclear basket, going as far as approving a state loan programme along with a two-way Contract for Difference (CfD) mechanism for the asset class. As expected, state-owned utility Vattenfall has been tasked with building up the country’s nuclear fleet joined by a club of 17 investors with a minority stake and the proposal to finance the build of 1.5GW of new nuclear power is reminiscent of the model used by the UK government for Sizewell C.