Soon-to-be-nationalized German energy firm set to build nuclear plant in Sweden

BERLIN (AA) - The soon-to-be nationalized German energy company Uniper is looking to build a power plant in Sweden, local media reported on Thursday.

The decision comes amid a dispute in the German government over the future of nuclear power as an alternative in the energy crisis.

It was only thanks to an intervention by Chancellor Olaf Scholz that the operating licenses for three German nuclear power plants were extended in October against the opposition of coalition partner the Greens. However, the supply of new fuel rods is still unclear.

Due to the energy crisis, the three German power plants are expected to continue running until next April. After that, Germany plans to phase out nuclear energy. The decision to phase out came in 2011 after the Fukushima nuclear disaster in Japan.

The fact that a soon-to-be state-owned company now wants to build a new nuclear power plant in Sweden could cause further strife in Germany's governing coalition.

Ebba Busch, Sweden’s energy minister, told Swedish public TV SVT that it was gratifying that Uniper had responded so quickly to the new Swedish government's invitation to energy companies and is now already planning to build a new nuclear power plant in the southern province of Skane.

Uniper reported a loss of around €40 billion ($39 billion) in the first nine months of the year, impacted by reduced Russian gas deliveries, according to the company’s financial results statement released Thursday.

The decline is mainly attributable to the gas business, which were adversely affected by high replacement costs due to curtailed gas deliveries from Russia between June 14 and Sept. 30, Uniper said.