Nordic-Baltic Nuclear Energy Summit Convenes in Stockholm to Boost Regional Nuclear Investment

High-Level Summit Addresses Nuclear Energy Future

Stockholm, Sweden – A high-level Nordic-Baltic Nuclear Investment Summit is underway today, October 7, 2025, in Stockholm, bringing together key stakeholders to advance new nuclear energy initiatives across the Baltic Sea region. The event, co-hosted by Sweden's government and Finland's Minister of Climate and the Environment, aims to foster collaboration and investment in nuclear power to strengthen energy security and achieve climate objectives.

The summit is being led by Sweden's Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch, alongside Finland's Minister of Climate and the Environment Sari Multala. Other Swedish ministers participating include Minister for Finance Elisabeth Svantesson, Minister for Financial Markets Niklas Wykman, and Minister for Climate and the Environment Romina Pourmokhtari. Over 80 participants are attending, representing ministers from neighboring countries such as Estonia, Latvia, Lithuania, and Poland, as well as international nuclear energy owners, CEOs from the nuclear value chain, potential investors, financiers, and representatives from international organizations.

Focus on Investment, Licensing, and Regional Cooperation

Discussions at the summit are centered on promoting new and emerging business and investment opportunities in nuclear energy, particularly within the Nordic countries and the Baltic Sea region. A significant focus is placed on streamlining licensing processes to accelerate the development of nuclear power projects.

Minister Sari Multala emphasized the importance of the gathering, stating, 'The high-level nuclear energy meeting organized together with Sweden brings together all the key actors whose efforts are crucial in advancing nuclear energy investments.' The event serves as a joint initiative by Sweden and Finland to launch an international dialogue aimed at engaging relevant actors in accelerating nuclear energy development.

Joint Declaration Underscores Nuclear's Role

In a significant outcome of the summit, ministers and high-level representatives from Estonia, Finland, Latvia, Poland, and Sweden have endorsed a joint written statement. This declaration highlights nuclear power's potential to contribute to enhanced energy security, more competitive electricity prices, and the phasing out of fossil energy in the region. The statement also acknowledges that no single country in the region possesses the full domestic capacity to construct a nuclear power plant independently, underscoring the necessity for close cooperation, drawing on expertise, resources, and capabilities from neighboring countries and the global supply chain.

National Strategies and Future Outlook

Both Sweden and Finland are actively pursuing strategies to expand their nuclear energy capabilities. Finland aims to reach investment decisions on new nuclear power projects during its current government term and is presenting its expertise in promoting nuclear power investments, including reforms to nuclear energy legislation and financing studies. Nuclear power already accounts for approximately 40% of Finland's electricity production, and the country is committed to achieving carbon neutrality by 2035.

Sweden has recently shifted its energy policy target from '100% renewable' to '100% fossil-free' electricity by 2045, a move that strongly supports the expansion of nuclear power. The Swedish government plans to construct new nuclear generating capacity equivalent to at least two large-scale reactors by 2035, with a total of up to 10 new large-scale reactors coming online by 2045. This regional push aligns with a broader international trend, as over 30 countries endorsed a declaration at COP28 to triple global nuclear energy capacity by 2050.