Samsung C&T Corporation Selected as Strategic Partner for Sweden's 1.2 GW SMR Project

Samseosa
[Financial News] Samsung C&T Corporation has been selected as a strategic partner for a 1.2 GW small modular reactor (SMR) project in Sweden. The company is accelerating its efforts to enter the global SMR market.
On the 3rd, Samsung C&T Corporation signed a joint development agreement (JDA) in Stockholm, Sweden, with GE Vernova Hitachi Nuclear Energy (GVH) for a new nuclear project led by Studsvik, a leading Swedish nuclear power company. The signing ceremony was attended by key executives from each company, including Studsvik CEO Carl Tedeen, GVH CEO Jason Cooper, and Sechul Oh, President and CEO of Samsung C&T Corporation.
Across Europe, efforts to introduce new nuclear power are gaining momentum as countries seek to strengthen energy security and achieve carbon neutrality. The Swedish government is pursuing a roadmap to secure 2.5 GW of new nuclear capacity, including SMRs and large-scale reactors, by 2035 and expand it to 10 GW by 2045.
Studsvik, which leads the project, is a key institution in Sweden's national nuclear program, established in 1947. It has expertise across the entire nuclear industry lifecycle, from reactor development and operational support to decommissioning, and operates in more than 20 countries worldwide.
The project is a large-scale 1.2 GW nuclear power initiative involving the construction of four 300 MW-class BWRX-300 SMR units developed by GVH based on existing boiling water reactor (BWR) technology. The project site is a safe and optimized location among Studsvik's properties that already holds an operating license for nuclear facilities. Commercial operations are targeted to begin in the mid-2030s.
The BWRX-300 is regarded as one of the SMR designs closest to commercialization. Construction of the first commercial SMR in the Western world is underway at Darlington in Ontario, Canada, and an application for an operating license was recently submitted.
Samsung C&T Corporation and GVH were selected as the final strategic partners through a competitive process involving three groups that began in May last year, laying the groundwork for their entry into Sweden's SMR market. Under the agreement, Studsvik will oversee overall project development, including licensing, environmental impact assessments, and consultations with the government. Samsung C&T Corporation and GVH will participate as joint engineering, procurement, and construction (EPC) partners, collaborating throughout the project from its initial stages through execution.
Since last year, Samsung C&T Corporation and GVH have strengthened their partnership to expand their global SMR businesses and continued to cooperate on initiatives such as establishing local supply chains. The selection as strategic partners is viewed as the first tangible result of those efforts. Samsung C&T Corporation plans to use the successful launch of the Swedish SMR project as a strong foothold for expanding into Europe and, eventually, broadening its SMR business across global markets.
[email protected] Jeon Min-kyung Reporter