nuclear-news

Consortium formed for Swedish SMR project

Thursday, 3 September 2026

Studsvik has selected GE Vernova Hitachi Nuclear Energy and Samsung C&T as its strategic partners for an initial four-unit BWRX-300 small modular reactor project, either at its existing licensed nuclear site in Nyköping or at the Målma site in Valdemarsvik.

Swedish nuclear technical services provider Studsvik, GE Vernova Hitachi Nuclear Energy (GVH), GE Vernova Financial Services, DS Investment Partners and Samsung C&T announced the signing of an agreement to advance the ReFirm nuclear programme at Studsvik’s sites in Sweden. The agreement is exclusive for a fixed period, which the parties may extend.

ReFirm is a multi-site small modular reactor (SMR) and new nuclear development programme that became part of the Studsvik Group through the acquisition of Kärnfull Next earlier this year. The programme is focused on light-water SMR technology, with plans for multiple units at “SMR parks”. Its plan is for the first unit to be commissioned in the mid-2030s. Kärnfull Next has worked with GE Vernova Hitachi on BWRX-300 deployment in Sweden since 2022 and entered a strategic teaming agreement with Samsung C&T in December 2024.

Under the new agreement, the partners will begin joint development work immediately, including commercial, technical, regulatory and financing activities during the exclusivity period. Studsvik will lead permitting, the environmental impact assessment, site rights, community engagement and the dialogue with the Swedish state. GVH will lead reactor design, licensing support and cost estimation and acts as design authority, and, together with Samsung C&T, acts as the execution team, giving the project single-point responsibility for design and construction delivery. During the exclusivity period, South Korean investment firm DS Investment Partners will lead the investment and GE Vernova Financial Services participates in an advisory and financial structuring capacity in support of the consortium.

A joint project company will be established to support development, financing, construction, ownership and operation of the plants, with details to be finalised in definitive agreements, Studsvik said. It noted that the agreement marks the next phase of development and does not constitute a final investment decision or authorisation to construct.

September 8, 2026 - Posted by Christina Macpherson | Small Modular Nuclear Reactors, Sweden