Iggy Pop is a co-recipient of the Polar Music Prize 2022.

The 74-year-old Grammy-winning punk legend and French chamber orchestra Ensemble intercontemporain are set to receive one million Swedish crowns (£83,060/$110,602) as part of the honour.

The prestigious awards will be presented on May 24 at the Grand Hotel in Stockholm.

The ‘Lust For Life’ hitmaker – who is often dubbed ‘The Godfather of Punk’ – said: “I was aware of the really nice line-up of people who had won the Polar Music Prize…so it’s a nice step for me, I respect him and I’m honored by it… I can’t wait to come to Stockholm in May to receive the Prize.

Matthias Pintscher, Musical Director of Ensemble intercontemporain, said: “I am beyond delighted to be coming to Stockholm in May to receive the Polar Music Prize in honor of Ensemble intercontemporain.

Marie Ledin, Managing Director of the Polar Music Prize, added: “We are delighted to return in 2022, after a two-year absence due to the pandemic, with two incredibly deserving winners. Iggy Pop is unique, there is no one else like him. The Ensemble intercontemporain is an avant-garde collective and their work has helped push the boundaries of modern classical music. We are delighted to be able to come together to honor and celebrate the important work of these two winners.

Previous recipients of the Polar Music Prize include Sir Paul McCartney, Bob Dylan, Sting and Joni Mitchell.

The Swedish prize – known as the Nobel Prize in Music – was founded in 1989 by Stig Anderson, best known as the manager of Swedish pop icons ABBA.

Beatles legend McCartney, 79, received the top prize in 1992.

The prize is awarded to a contemporary musician and a classical musician.