Partnership to promote nuclear projects in Norway

Norsk Kjernekraft aims to build, own and operate off-grid small modular reactor (SMR) power plants in Norway in collaboration with power-intensive industry. It says it will prepare licence applications in accordance with national regulations and international standards. It will follow the International Atomic Energy Agency's Milestones approach, and focus on what creates value in the early phase. Financing will take place in collaboration with capital-strong industry and solid financial players. 

Norconsult - headquartered in Sandvika, Norway - is one of the Nordic region's leading consulting engineering companies.

"By combining Norsk Kjernekraft's technological innovation and Norconsult's advisory expertise, the companies will be able to strengthen each other and together develop responsible decision-making bases in meeting future energy needs," said Norsk Kjernekraft CEO Jonny Hesthammer.

"Norconsult's experience with large and complex projects will be very valuable in the work of investigating the possibility of nuclear power projects in Norway," added Montserrat Telset, Regional Director West at Norconsult. "Through this agreement, Norconsult will contribute its expertise to ensure that all necessary analyses and studies are carried out in a thorough and fact-based manner."

Norsk Kjernekraft has entered into agreement of intents on the investigation of nuclear power with several municipalities. Halden, in southeast Norway, is the fourth possible location for a nuclear power plant that Norsk Kjernekraft has announced. In August last year, it submitted a proposal to the Ministry of Energy for an assessment of the construction of a power plant based on multiple SMRs in the municipality of Øygarden, west of Bergen. That proposal followed proposals submitted for SMR power plants in Aure and Heim municipalities, as well as Vardø municipality.

In June last year, the Norwegian government announced the appointment of a committee to conduct a broad review and assessment of various aspects of a possible future establishment of nuclear power in the country. It must deliver its report by 1 April 2026.