The Swedish State has entered into an agreement to acquire 60 per cent of the shares in Videberg Kraft AB, a joint venture with the Industrial Consortium Industrikraft i Sverige AB and Vattenfall AB as other shareholders.

Videberg Kraft AB intends to build and operate new nuclear power reactors on the Värö Peninsula in Varberg Municipality. The Swedish state, Industrikraft and Vattenfall AB have agreed on the main terms and conditions for risk-sharing and financing of the nuclear power project, including state aid that the government must notify to the European Commission for state aid review.

Gernandt & Danielsson’s client Industrikraft consists of ABB, Alfa Laval, Boliden, Hitachi Energy, Höganäs AB, SSAB, Saab, Stora Enso and the Volvo Group.

Gernandt & Danielsson advises Industrikraft with a team led by partner Mats Hugoson, assisted by partners Björn Svensson and Pär Johansson, senior associates Robin Skoglund Rovén and Amanda Alexandersson and associate Samuel Gilljam.

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