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Rolls-Royce SMR to explore joint opportunities for small modular reactors in Finland and Sweden

28 March 2023

Rolls-Royce SMR and Fortum have signed a memorandum of understanding (MoU) to jointly explore the opportunities for the deployment of small modular reactors (SMR) in Finland and Sweden. The talks are the latest to take place between Rolls-Royce SMR and European nations following similar agreements with customers in Poland and Czechia.

Image: Rolls-Royce SMR
Image: Rolls-Royce SMR

Rolls-Royce SMR was established in November 2021 to bring a modularised, factory-built SMR to market, capable of generating 470MW of low-carbon electricity for at least 60 years. Nordic energy company, Fortum, owns and operates the Loviisa nuclear power plant – the first nuclear power plant in Finland. This agreement is part of Fortum’s newbuild feasibility study exploring the prerequisites for new nuclear in Finland and Sweden.

Alan Woods, Director of Strategy and Business Development for Rolls-Royce SMR, said: “Rolls-Royce SMR is honoured to be collaborating with Fortum, as one of the most respected nuclear operators in the Nordics, and we see great benefit in the co-operation between our two organisations.

“The importance of energy security has increased dramatically and we see our unique approach to nuclear new build – focusing on delivery capability and cost effectiveness – as the best solution to providing low-carbon energy for generations to come. We look forward to working with Fortum during their feasibility study.”

“Fortum is happy to start a collaboration with Rolls-Royce SMR which is one of the forerunners in the small modular reactor industry,” said Laurent Leveugle, Fortum’s Head of Newbuild Feasibility Study. “We are especially interested in learning more about Rolls-Royce SMR’s delivery model considering Rolls-Royce’s historical industrial experience.” Any potential investment decision will be made at a later stage.

Based in Espoo, Finland, Fortum’s role is to ensure the security of supply and a fast and reliable transition to a carbon-neutral economy by providing customers and societies with clean energy and sustainable solutions. Fortum’s core operations are located in the Nordics and consist of CO2-free power generation, electricity sales, district heating as well as recycling and waste solutions.

Image (left to right): Olli Kymäläinen (Technical Director, Fortum), Tuomo Huttunen (Head of Business Development, Nordics, Rolls -Royce SMR), Laurent Leveugle (Head of Newbuild Feasibility Study, Fortum), Sophie Macfarlane-Smith (Head of Customer Engagement, Rolls-Royce SMR).

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