Fortum, Studsvik explore new nuclear opportunities in Sweden for green transition
Fortum, a leading clean energy company, together with Swedish nuclear technology expert Studsvik, have signed a Memorandum of Understanding (MoU) to investigate new nuclear energy options in Sweden. This collaboration marks a significant move in Fortum’s ongoing feasibility study aimed at exploring new nuclear business opportunities in both Finland and Sweden.
Laurent Leveugle, Fortum’s Vice President for New Nuclear, emphasizes the necessity of new electricity generation in the Nordic countries to meet future demand. He expresses satisfaction with the agreement, underscoring its alignment with Fortum’s strategic goal of delivering reliable, clean energy and advancing decarbonization in various industries.
The collaboration between Fortum and Studsvik will evaluate the potential for constructing small modular reactors (SMR) or conventional large-scale reactors at Studsvik’s site near Nyköping, Sweden. The initial phase focuses on identifying viable business models and technical solutions for further assessment. Investment decisions, however, will be considered in the future.
Camilla Hoflund, President and CEO of Studsvik, acknowledges the importance of new nuclear facilities in achieving a green transition. She highlights Studsvik’s readiness to partner with Fortum to explore the establishment of new nuclear facilities on its site, already equipped for nuclear operations.
Fortum’s comprehensive two-year nuclear feasibility study, initiated in October 2022, delves into commercial, technological, and societal factors, including political, legal, and regulatory aspects for SMRs and conventional large reactors in Finland and Sweden. This study aims to identify potential commissioning opportunities in the 2030s and beyond, while exploring potential partnerships and collaborative ventures.
In addition to Studsvik, Fortum has forged cooperation agreements with several global nuclear companies, including Westinghouse Electric Company, Korean KHNP, British Rolls-Royce SMR, French EDF, Swedish Kärnfull Next, and Finnish companies Outokumpu and Helen.