Studsvik and partners to develop 1.2 GW nuclear project in Sweden

A five-company consortium has signed an exclusive agreement to develop a 1.2 GW nuclear project in Sweden using small modular reactors (SMRs). The project, part of Studsvik’s ReFirm program, aims to deploy four BWRX-300 reactor units at one of two potential sites, which could include Nyköping or Valdemarsvik.

The consortium includes Studsvik, GE Vernova Hitachi Nuclear Energy, Samsung C&T, GE Vernova’s Financial Services business, and DS Investment Partners. The partnership will focus on joint development work involving commercial, technical, regulatory, and financing workstreams. While the agreement marks a significant step toward advancing Sweden’s nuclear capacity, it does not yet constitute a final investment decision or authorization to construct.

The first reactor unit is targeted to enter operation in the mid-2030s. This initiative represents a shift in Sweden’s energy strategy as the nation seeks to meet growing demand for baseload power and replace aging nuclear capacity with carbon-free technology.