New nuclear power plants are being built across Europe – where does Finland stand?
Interest in building new nuclear power plants is evident in European government policies and in record attendance at industry events. Finland is progressing a couple of years behind Sweden in terms of construction pace, but expertise in both countries remains strong.
Record crowds at nuclear events
Europe’s most important nuclear event, WNE2025, took place in Paris in early November. Organizers expected around 20,000 visitors, as in previous years, but nearly 35,000 participants and 1,000 exhibitors attended. In just a few years, the nuclear renaissance has gained remarkable momentum.
Sweco’s stand was located in the Nordic Nuclear Pavilion, alongside Steady Energy, VTT, and other notable industry players. We witnessed first-hand the global impact of Finnish expertise. It’s inspiring to be part of a community that drives progress with Nordic strength.
Why is Sweden ahead of Finland in nuclear construction?
The sector’s positive buzz was already visible at Finnish events earlier this autumn: Nuclear Engineering Days and the Nordic Fusion Forum. In the Nordic context, government policy sparks most discussion. The direction is the same, but the steps differ.
In Estonia, Fermi Energia OÜ is initiating the country’s first-ever nuclear power project. In September, the Finnish government made an important decision supporting new nuclear construction, which has already generated feasibility assignments for Sweco’s experts. There are multiple interested implementers, but will state support on market terms be sufficient?
Sweden has chosen a different path and achieved results faster. While Finland is waiting for implementers to announce their decisions over the coming year, Sweden’s parliament has already approved a concrete support package for new reactors. Nine major companies — from Volvo and Saab to SSAB and Hitachi — have backed it.
State financial support sends a strong signal to nuclear actors. Vattenfall has already decided to build 3–5 small reactors, whose combined output would equal Olkiluoto 3. Sweden’s steps are bolder, which is why it is a couple of years ahead of Finland. The Finnish government is expected to introduce similarly clear support measures.
Sweco’s role across borders
Either way, Sweco’s experts are busy in both countries. We work on nuclear projects together: Sweden provides additional expertise for studies carried out in Finland, and Finland supplies specialist know-how to projects progressing in Sweden. The advantage of Sweco’s Europe-wide cross-border model is that the best expert can be assigned to each task.
The world is on the threshold of the first SMR plants
Growing electricity demand continues to drive the nuclear renaissance. Nuclear power will remain a baseload source that supports and balances the variable output of wind and solar. There are multiple technology options, and the era of SMR plants has begun.
The first projects are moving forward globally, and Sweden has made a policy decision to focus specifically on building SMRs. In Finland, Steady Energy is implementing an SMR test facility at Salmisaari, and Sweco is the project’s main collaboration partner.
We are also designing small nuclear plant concepts for Steady Energy. Our expertise adds value in early-phase feasibility studies and in integrating nuclear technologies with geotechnical engineering, underground tunneling, and bedrock construction design — Steady Energy’s SMR plants will be located underground.
Ville-Veikko Karhunen, Market Executive – Nuclear Business, ville-veikko.karhunen@sweco.fi