Kärnfull Next progresses with Swedish SMR project

Tuesday, 18 February 2025

In June last year, Kärnfull Next announced it had entered into an exclusive partnership agreement with landowner Latona Group for the exploration rights for nuclear power on the site. The company noted that the property includes areas that were identified as suitable for nuclear power in studies going back as far as the 1970s. With more than 1300 hectares in total, it said the site was appealing for co-location with 2030s energy-intensive industries, such as AI data centres. 

The SMR campus in Valdemarsvik is initially planned to host between four and six small light water reactors, adding between 10-15 TWh of electricity generation per year. It would be part of Kärnfull Next's Re:Firm South SMR programme, aiming to expand carbon-free and dispatchable energy production across southern Sweden.

Kärnfull Next said it has now signed a new cooperation agreement with Latona Group, securing permanent land rights for the project.

"This is a crucial step in our strategy to establish new nuclear power in southern Sweden, said Kärnfull Next Chief Strategy Officer John Ahlberg. "Our collaboration with Latona provides the stability needed to proceed with topics such as permitting and detailed project planning."

The Valdemarsvik project will now advance in close dialogue with the municipality, regional stakeholders, and strategic partners, including global construction giant Samsung C&T, Kärnfull Next said. The company signed a memorandum of understanding with the South Korean construction firm in December to advance the deployment of SMRs in Sweden.

"The goal is to ensure the efficient development of the SMR park, covering technical, economic, societal and regulatory aspects," Kärnfull Next said.

"Our vision is to combine advanced nuclear technology with sustainable energy supply and local engagement," Ahlberg said. "By maintaining an open and transparent dialogue with all stakeholders, we create the foundation for a robust and future-proof energy project."

In March 2022, Kärnfull Next signed a memorandum of understanding with GE Hitachi Nuclear Energy on the deployment of its BWRX-300 in Sweden.

Kärnfull Next has been conducting site selection and feasibility studies in several municipalities in Sweden since 2022. By establishing multiple SMR parks as part of the same programme, the company expects to achieve economies of scale in terms of technology selection, construction partners, power purchase agreements and financing partners.