Project development firm created for Norwegian SMR plant

Friday, 25 April 2025

Norsk Kjernekraft submitted a proposal to Norway's Ministry of Energy in November 2023 for an assessment into the construction of the small modular reactor (SMR) plant. According to the preliminary plan, the plant will be located in a common industrial area - the Taftøy industrial park - in the border area between Aure and Heim in Trøndelag county. The plant is planned to consist of several SMRs, with a total generating capacity of up to 1500 MWe, if the plant is realised in its entirety.

"With the establishment of the company, we are now positioning our region well to realise our ambitions to cut greenhouse gas emissions while preserving our nature," said mayors Marit Liabø Sandvik (AP) and Henning Torset (H) in a joint statement. "These goals must be met without compromising local jobs. Nuclear power can meet the ever-increasing demand for power while meeting all the other goals, and was therefore considered a good alternative. The reception among the local population has been good so far, and we will work to ensure that this continues."

"The dialogue with residents, businesses and politicians in Heim and Aure municipalities has been very constructive and good. The municipalities were early in initiating the process for nuclear power, including by notifying the Ministry of Energy of a study programme, and are thus very well placed to be among the first plants in Norway," said Norsk Kjernekraft CEO Jonny Hesthammer. "By the municipalities now also taking on the ownership role, transparency and public ownership of the plant are ensured. The plant could have a lifespan of up to 100 years, so this is value creation from a generational perspective. The grandchildren of children born today will actually be able to have their jobs at the plant."

NEAS CEO Knut Hansen added: "Møre og Romsdal is a region with power-intensive industry, and new power production in the region has long been the most important challenge to enable further growth. With this plant, all new needs will be met for a long time to come and companies will be able to see the opportunities for development and cuts in greenhouse gas emissions."

Earlier this month, the Norwegian government commissioned several agencies to develop an Environmental Impact Assessment programme for the proposed SMR power plant in Aure and Heim. Recommendations are expected before the summer, and no later than September.

"If all goes according to plan, investigations will be able to begin as early as this year," Norsk Kjernekraft said. "If the project is realised in its entirety, it will correspond to almost 10% of all Norwegian power production and all developed wind power in Norway as of today."

Norsk Kjernekraft aims to build, own and operate 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 approach for milestones, and focus on what creates value in the early phase. Financing will take place in collaboration with capital-strong industry and solid financial players.

Aure and Heim is one of four possible locations for a nuclear power plant that Norsk Kjernekraft has announced, the other municipalities being Vardø, Øygarden and Halden.

In June 2024, the Norwegian government appointed 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.