Tal av energi- och näringsminister samt vice statsminister Ebba Busch vid Financing the Tripling of Nuclear Energy Leadership Event (eng)
Publicerad
Tal av energi- och näringsminister samt vice statsminister Ebba Busch vid Financing the Tripling of Nuclear Energy Leadership Event i New York den 23 september 2024. Talet hölls på engelska, det talade ordet gäller.
Your excellencies, Dear Mr Podesta, colleagues and friends.
Thank you for following up on the tripling nuclear declaration. The recognition of nuclear at COP28 and our joint declaration was historic. But perhaps not surprising.
More and more governments and citizens have realised the necessity of building competitiveness and economic growth on zero-emission technologies – with nuclear as a necessary component.
A switch from fossil fuels to electrification and fossil-free energy is vital - not only for mitigating climate change and building competitiveness. It is equally supporting energy security as we cut import dependencies from unfriendly states.
But we, governments, cannot stop at declarations. Tripling the nuclear capacity globally means WE have to act. We must walk the talk and address the challenges for new nuclear – not least the financial ones.
So, an update from Sweden; Our government has systematically targeted all regulatory and financial challenges for new nuclear.
Our objective is to double Sweden’s total electricity production by 2045 – with fossil-free production only.
All our electricity is already fossil-free, which gives our industry a competitive edge and we are determined to maintain this edge.
By 2035 Sweden should have 2500 MW new nuclear production. By 2045 we should have new nuclear production capacity corresponding to 10 new large reactors, or corresponding capacity from SMR.
As for financing we are now analysing a concrete proposal recently developed by a public enquiry. The proposal consists of three essential components.
First, cheap state loans to lower the financial cost and reduce the risk;
Second, an electricity price hedging agreement, or “contracts for difference” to provide security for future electricity price development, and;
And finally, a risk-sharing mechanism that gives investors a minimum return on equity.
Our intention is to establish a financial framework that enables industry to invest in new-build projects and attracts various private investors.
In addition, we have initiated public enquiries to bring forward concrete proposals on regulatory issues aiming at simplifying and speeding up licensing procedures.
We have also initiated an enquiry on the financing of final repository of waste from new reactors.
As for international cooperation we have drastically increased both our bilateral and multilateral cooperation on civil nuclear. Many of the challenges are shared with others and will benefit from cooperation and coordination.
Finally, let me return to the importance of being concrete. There is a global momentum that must be used to deliver real new-build projects. First-movers will be essential. Both those building new reactors – and those industries requiring fossil-free electricity.
Tripling the nuclear capacity globally is not a driver itself – Our objective is to create conditions for growing economies and quality of life for our citizens.
The green transition is an opportunity. The real challenge will come if we miss this opportunity and don’t deliver.
I am convinced it is possible and I am determined to be among the first-movers creating conditions for the investments needed to deliver a competitive net-zero emission economy.
Thank you!
Videoproduktion
Videoproduktion: Heckler Photo
X