(Bloomberg) -- Sweden’s ambition to build new nuclear plants was dealt a blow after Uniper SE said it had no plans to invest further in the technology.

The German utility operates the Nordic nation’s biggest reactor and holds a stake in others too. Their steady output played a large part in Uniper’s swift financial turnaround after last year’s bailout — while keeping the lights on in southern Sweden during the energy crisis. But the company is now prioritizing gas and renewables.

Sweden needs all the new power capacity it can get as demand is poised to double in the next few decades amid widespread electrification of industries and transportation. New nuclear is at the heart of a strategy to expand power output, while in Uniper’s home country, the last remaining reactor was shut this year as the government retreats from the controversial technology.

The company’s reactors are “a key part in making Uniper sustainable, both financially and environmentally,” Chief Executive Officer Michael Lewis said Tuesday in Dusseldorf. “We intend to keep those plants,” but “we will not invest any further in nuclear power.”

Read More: Swedish Government Wants More Nuclear Power as Opposition Eases

In addition to the 1,400-megawatt Oskarshamn-3 power station, Uniper is also a minority shareholder in the Ringhals and Forsmark plants operated by state-owned utility Vattenfall AB.

Vattenfall and Finland’s Fortum Oyj are studying building small modular reactors, while the Swedish government has expressed a preference for larger conventional plants.

Uniper’s CEO said the company isn’t considering investing in either of those options, and is instead focusing on more flexible power generation to complement its renewed push into renewables, also unveiled on Tuesday.

Read More: Uniper to Invest €8 Billion in Green Transformation This Decade

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