Samsung C&T has been selected as a strategic partner for a 1.2GW small modular reactor project in Sweden, marking a significant step in the company's push to expand its nuclear power business across Europe.
Samsung C&T said on Sept. 3 that it signed a joint development agreement (JDA) in Stockholm with GE Vernova Hitachi Nuclear Energy (GVH) and Swedish nuclear technology company Studsvik AB for the development of a new nuclear power project.
The signing ceremony was attended by senior executives including Studsvik CEO Karl Thedéen, GVH CEO Jason Cooper and Samsung C&T President and CEO Oh Se-chul.
The project calls for the construction of four 300MW BWRX-300 small modular reactors, bringing the total planned capacity to 1.2GW. The reactors are expected to be built at a Studsvik-owned site licensed for nuclear operations, with commercial operation targeted for the mid-2030s.
Samsung C&T and GVH were selected as strategic partners following a competitive process involving three groups that began in May last year. Under the agreement, Studsvik will lead project development, including licensing, environmental impact assessments and consultations with the Swedish government.
Samsung C&T and GVH will participate as joint engineering, procurement and construction (EPC) partners, working together from the early development stage through project execution.
BWRX-300 expands from North America to Europe
A key element of the Swedish project is the BWRX-300, an SMR developed by GVH based on proven boiling water reactor technology.
The reactor design is already moving toward commercialization in Canada, where a BWRX-300 project is under construction at the Darlington nuclear site in Ontario. The Canadian project is widely regarded as one of the most advanced commercial SMR developments in the Western market.
The Swedish project could therefore provide another foothold for the BWRX-300 as the technology expands beyond North America and into the European nuclear market.
Studsvik, which is leading the Swedish development, was established in 1947 as a central institution in Sweden's national nuclear program. The company provides services across the nuclear lifecycle, ranging from new nuclear development and operational support to decommissioning, and operates in more than 20 countries.
Sweden has also been moving to expand nuclear generation as part of its energy security and decarbonization strategy. The Swedish government is pursuing plans to add around 2.5GW of new nuclear capacity, including SMRs and large-scale reactors, by 2035, with the longer-term goal of expanding new capacity to 10GW by 2045.
Samsung C&T turns SMR partnership into European project
For Samsung C&T, the agreement represents a shift from building strategic partnerships in the SMR sector to participating in an actual European development project.
Samsung C&T and GVH have worked together since last year to pursue opportunities in the global SMR market, including cooperation on local supply chains. Their selection for the Swedish project is the first tangible project to emerge from that partnership.
Samsung C&T's involvement as a joint EPC partner from the early development phase could also help the company establish a track record that can be leveraged as additional SMR projects emerge across Europe.
The company plans to begin full-scale development work on the Swedish project under the new agreement and use it as a platform to expand its presence in the European SMR market and pursue further nuclear opportunities globally.
