Samsung C&T Enters Swedish Nuclear Market with 1.2 GW SMR Development Deal

Samsung C&T has secured a role in Sweden’s planned 1.2 GW small modular reactor project, marking the company’s entry into a new European nuclear development effort.

The South Korean company signed a joint development agreement in Stockholm with GE Vernova Hitachi Nuclear Energy, known as GVH, and Swedish nuclear technology company Studsvik AB. Samsung C&T President and CEO Oh Se-chul attended the signing alongside GVH CEO Jason Cooper and Studsvik CEO Carl Teden.

The project calls for four BWRX-300 reactors, each with a capacity of 300 MW. GVH developed the reactor design, which is based on existing boiling-water reactor technology. The units would be built at a site owned by Studsvik that holds an operating license for nuclear facilities. The partners are targeting commercial operations in the middle of the 2030s.

Studsvik will lead business development, including licensing, environmental impact assessments and consultations with the Swedish government. Samsung C&T and GVH will work as joint EPC partners, cooperating from the project’s early development phase through construction and execution.

Samsung C&T and GVH were selected after a competitive process involving three groups that began last May. The companies have also worked together since last year to expand global SMR projects and develop local supply chains. Samsung C&T plans to use the Swedish project as a base for broader opportunities in Europe and other global SMR markets.

Sweden’s government is pursuing a roadmap to secure 2.5 GW of new nuclear capacity, including SMRs and large reactors, by 2035 and 10 GW by 2045.