Studsvik Selects Partners for 1.2 GW Swedish Nuclear Project

Studsvik has formed a strategic alliance with GE Vernova Hitachi Nuclear Energy, Samsung C&T, and financial backers to advance a 1.2-gigawatt (GW) nuclear power project in Sweden. Expected to commence operations in the mid-2030s, the initiative will feature four BWRX-300 small modular reactors (SMRs). The project will be located at either Studsvik's existing licensed facility in Nyköping or a new greenfield site in Valdemarsvik. The latter site application was submitted earlier in 2026, marking the first of its kind under Sweden's updated nuclear legislation that now permits reactor construction beyond the country's three legacy plants.

The collaboration operates under Studsvik’s ReFirm multi-site SMR program. Within the consortium, Studsvik will manage permitting, environmental assessments, and government relations. GE Vernova Hitachi will act as the engineering authority for the reactors, partnering with Samsung C&T to deliver single-point execution for engineering, procurement, and construction (EPC). On the financial side, South Korean firm DS Investment Partners and GE Vernova’s Financial Services business will lead investment and financial structuring. By committing to a phased, four-unit deployment, the companies aim to standardize the supply chain, leveraging lessons learned from the initial build to drive down costs and construction timelines for subsequent units while bolstering Swedish industrial participation.

Additional Context
This section provides technological and market background not explicitly detailed in the original release.

Sweden’s 2026 nuclear legislation marks a historic pivot in the nation's energy policy, lifting previous geographic restrictions to meet surging industrial demand for baseload, low-carbon power. To incentivize the massive capital required for new nuclear builds, the Swedish government has introduced financial de-risking frameworks, including two-way contracts for difference (CfDs) and state-backed loans. This financial mechanism guarantees a fixed strike price for electricity generation, protecting developers from wholesale market volatility. Technologically, the GE Vernova Hitachi BWRX-300 is a boiling water Small Modular Reactor (SMR) designed to require significantly less concrete and steel per megawatt compared to traditional gigawatt-scale reactors. By opting for a multi-unit SMR fleet, Studsvik is prioritizing "Nth-of-a-kind" manufacturing economics. This modular approach relies on factory-built, standardized components, which drastically mitigates the severe schedule delays and budget overruns that have historically plagued large-scale, bespoke nuclear projects in Europe.

Edited by Lekshman Ramdas, Induportals editor – adapted by AI.

www.gevernova.com