Studsvik Picks GE Vernova, Samsung for 1.2-GW Swedish SMR

Swedish nuclear technology company Studsvik AB has chosen GE Vernova Hitachi Nuclear Energy and Samsung C&T as strategic partners for a proposed 1,200-megawatt small modular reactor project. The plan involves building four BWRX-300 units, with the first expected to start operating in the mid-2030s.

An exclusive agreement signed on September 3 also includes GE Vernova's Financial Services business and South Korean investor DS Investment Partners. The companies said this pact is not a final investment decision or a construction authorization. Joint development work on commercial, technical, regulatory, and financing aspects will begin immediately.

Site Selection and Development Model

The project will be built at one of two candidate sites: Studsvik's licensed nuclear site in Nyköping or a location in Målma, Valdemarsvik. Both sites are part of the ReFirm multi-site SMR development program, originally created by Kärnfull Next, a developer acquired by Studsvik earlier this year. Kärnfull Next's model covers siting, permitting, design, and financing, aiming to create what it calls "Ready-to-Build" projects.

Nyköping is a coastal city about 100 kilometers south of Stockholm. Valdemarsvik is a Baltic coastal municipality roughly 220 kilometers south of the capital. In March 2026, project company ReFirm Målma AB applied to develop a 1,200-MW to 1,600-MW campus there.

A Two-Year Supplier Evaluation

Studsvik launched a project-specific supplier analysis in 2024. The company stated that only a few Western reactor suppliers remained in a parallel evaluation. On September 3, Studsvik announced it had completed a competitive evaluation and selected the GE Vernova Hitachi BWRX-300 design. Ontario Power Generation is currently building the first BWRX-300 unit at its Darlington site in Canada.

Studsvik President and CEO Karl Thedéen said the agreement helps Sweden turn its energy ambitions into reality. He stated the BWRX-300 combines boiling water reactor technology with lessons learned from the Darlington project, giving Sweden access to a technology moving toward fleet-scale execution.

Project Roles and Phased Structure

The companies have outlined specific roles for the development phase. Studsvik will lead permitting, environmental assessments, site rights, and community engagement. GE Vernova Hitachi will lead reactor engineering, licensing support, and cost estimation. GE Vernova Hitachi and Samsung C&T will jointly form the execution team, providing single-point responsibility for construction.

Samsung C&T's Engineering & Construction Group has delivered 12 gigawatts across 10 nuclear units, including the Barakah plant in the UAE. DS Investment Partners will lead investment during the exclusivity period, while GE Vernova Financial Services will advise on financing.

The project is structured as a phased, multi-unit program. The companies said this is intended to support standardization, capture lessons from early deployment for later units, and increase Swedish industrial participation in engineering, procurement, and construction.

Sweden's Evolving Nuclear Landscape

Sweden currently operates six reactors at three sites, supplying about 30% of the nation's electricity. The operating fleet includes Vattenfall's Forsmark and Ringhals plants, and the Oskarshamn 3 unit. In June 2024, Vattenfall said it would extend the operating lifetimes of five units from 60 to 80 years, an investment estimated between 40 and 50 billion Swedish kronor, incurred mainly in the 2030s.

Studsvik CEO Karl Thedéen framed the new project as a long-term necessity. "Sweden's electricity supply is a long-term play: existing nuclear capacity is aging, and demand for baseload power is growing," he said. "One plant is a project. Four is the start of an industry."