Studsvik, GE Vernova Hitachi, and Samsung C&T form alliance for Swedish nuclear power project

NYKÖPING, Sweden, Sept. 3, 2026 /CourierPR/ -- Studsvik, along with GE Vernova Hitachi Nuclear Energy and Samsung C&T, has announced a significant advancement in the development of a 1.2 GW nuclear power project in Sweden. The partnership will focus on building four units of the BWRX-300 reactor design, a small modular reactor (SMR), at either Studsvik's existing Nyköping site or the newly applied-for Valdemarsvik site, in or near Målma.

The project, known as the ReFirm program, is part of Studsvik's broader strategy to expand nuclear capacity in Sweden. The decision to pursue a phased, multi-unit structure aims to standardize the program, allowing for the application of lessons learned from early deployments to subsequent units, thereby improving cost, schedule, and productivity outcomes. This approach also aims to maximize Swedish industrial participation throughout the project's lifecycle, from engineering and procurement to construction and long-term operations.

Karl Thedéen, President and CEO of Studsvik, emphasized the importance of long-term planning in the Swedish energy landscape, where existing nuclear capacity is aging and demand for baseload power is increasing. "To meet these needs, we sought partners that could deliver on both the technical and financial aspects of the project," Thedéen said. "GE Vernova Hitachi and Samsung C&T have provided the necessary expertise and commitment."

Jason Cooper, CEO of GE Vernova Hitachi Nuclear Energy, highlighted the company's experience in deploying the BWRX-300 reactor technology, which combines proven boiling water reactor technology with ongoing lessons from the Darlington New Nuclear Project in Canada. "The BWRX-300 is designed to be both innovative and practical, offering a scalable solution for Sweden's energy requirements," Cooper said.

Oh Se-chul, President and CEO of Samsung C&T's Engineering & Construction Group, expressed enthusiasm for the partnership, stating, "This collaboration will not only support the development of the ReFirm program but also strengthen Sweden's industrial capability and expand local supply chains."

The joint development work will commence immediately, with the partners focusing on commercial, technical, regulatory, and financing activities during the exclusivity period. The project will be managed through a joint project company, with DS Investment Partners leading the investment and GE Vernova Financial Services providing advisory and financial structuring support.

Sweden's nuclear expansion is being facilitated by new legislation that permits reactors at sites beyond the existing three, requiring government approval for each. This project aligns with the country's goals of enhancing its energy security and reducing carbon emissions.

Studsvik's Thedéen concluded, "We are excited to be part of this groundbreaking initiative, which marks a significant step in the reinvigoration of Sweden's nuclear industry. The partnership with GE Vernova Hitachi and Samsung C&T underscores our commitment to delivering a sustainable and reliable energy future."

The announcement does not have an immediate financial impact on Studsvik's earnings for 2026, but it sets the stage for long-term opportunities in the Swedish nuclear sector.