As part of Fortum’s two-year feasibility study announced in October to explore business opportunities in new nuclear in both Finland and Sweden, Fortum will jointly explore opportunities in new nuclear to develop small modular signed a Memorandum of Understanding (MoU) with Swedish Karnful Next for reactors (SMRs) in Sweden. This comes two days after Fortum and Électricité de France (EDF) signed a framework cooperation agreement to jointly explore collaboration opportunities for both SMR and large power plant deployments in Finland and Sweden.
In collaboration with Karnful Next, the two companies will jointly investigate Swedish SMR projects leading to concrete feasibility studies. The timetable for the first operative SMR in Sweden will depend on progress in legislation on permitting, licensing and siting and the number of reactors in operation, as well as in deciding on future investment.
Laurent Levegle, Head of Newbuild Feasibility Studies at Fortum, said: “SMRs can provide predictable and fossil-free electricity, heat and hydrogen to both industry and municipalities. Along with new wind power, new nuclear will be an important piece of the climate change puzzle. Karnful Next already has a remarkable project portfolio and we see that our various capabilities across the value chain complement each other excellently.”
In November, Fortum and the Finnish energy company, Helen, launched a joint study to find prerequisites for cooperation in nuclear power and SMR as part of Fortum’s feasibility study. Earlier, in 2021, Fortum and Fermi Energy completed a licensing model study for SMR deployment in Estonia. In 2020, Fortum and the Massachusetts Institute of Technology (MIT) began a three-year collaborative project to create an open-source tool for techno-economic modeling of SMR development projects.