STOCKHOLM: Sweden’s government said Thursday that it had signed an agreement with the United States to support the development of new nuclear power in both countries.

The two countries “will exchange experience on issues related to policy, research and innovation related to supply chains, financing models, skills supply and development of advanced nuclear fuel,” the government said in a statement.

“This is good for Sweden, the United States, the labour market and competitiveness,” Energy Minister Ebba Busch said in the statement.

The government said that both Sweden and the United States “have extensive experience of nuclear power and there are plans in both countries to develop it”.

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In November 2023, Stockholm presented a roadmap for a “massive expansion” of nuclear power in the coming decades to meet growing electricity demand.

As a first step, Stockholm intends to build reactors with a total capacity of at least 2,500 megawatts by 2035, followed by a “massive expansion” by 2045.

Sweden currently operates six nuclear reactors at three different nuclear power plants.