9 May (NucNet): Swedish state-owned utility Vattenfall is evaluating its research portfolio so it can invest in research and development projects, including nuclear, which can contribute more quickly to its business development, the company said.
Vattenfall, majority owner of the Forsmark and Ringhals nuclear power stations, said it will focus on R&D projects within smart electricity grids as well as wind, hydro, coal and nuclear power.
In the nuclear energy sector, the company will continue to invest mainly in Swedish nuclear fuel and waste management company SKB’s method for the safe final repository of spent nuclear fuel, as well as in projects designed to ensure “safe and stable operation” of reactors over the long term.
Challenging market conditions and a slower rate of investment mean that several R&D projects are no longer required for business operations, Vattenfall said.
The company also announced it had appointed forest industry executive Magnus Hall as chief executive officer. Mr Hall will take over at Vattenfall on 1 October 2014. He replaces Oystein Loseth, whose contract expires in 2015.
