Studsvik, GE Vernova Hitachi Nuclear Energy, GE Vernova Financial Services, DS Investment Partners and Samsung C&T have agreed to advance the ReFirm nuclear programme, with development work starting on a potential four-unit small modular reactor (SMR) project in Sweden.
The programme centres on GE Vernova Hitachi’s BWRX-300 reactor and initially covers two potential sites at Nyköping and Valdemarsvik. The first project is planned as four reactors with a combined generating capacity of about 1,200 MWe, although the final site has yet to be selected.
Studsvik operates an existing licensed nuclear facility at Nyköping. At Valdemarsvik, an application was submitted in March 2026 under Sweden’s revised nuclear legislation, which requires government approval for new nuclear facilities.
The parties will use an exclusivity period to progress technical, commercial, regulatory and financing work. The agreement does not represent a final investment decision or permission to construct.
Studsvik will lead permitting, environmental assessment, site rights and engagement with local communities and the Swedish government. GE Vernova Hitachi will be responsible for reactor design, licensing support and cost estimation, while it and Samsung C&T will form the execution team. DS Investment Partners will lead investment activities, with GE Vernova Financial Services providing financial and structuring advice.
A joint project company is also planned to handle future development, financing, construction, ownership and operation, subject to definitive agreements.
The multi-unit approach is intended to allow standardisation between reactors and capture lessons from earlier units for subsequent construction. The partners also expect the programme to create opportunities for Swedish companies across engineering, procurement, construction and long-term plant operations.
Studsvik CEO Karl Thedéen said the company was looking beyond an individual reactor project.
“Existing nuclear capacity is ageing, and demand for baseload power is growing,” he said. “One reactor is a project. Four is the start of an industry.”
GE Vernova Hitachi CEO Jason Cooper said Sweden could draw on experience from the BWRX-300 programme at the Darlington New Nuclear Project in Canada.
Samsung C&T CEO Oh Se-chul said the partners aimed to strengthen local supply chains alongside deployment of the reactor technology.
The ReFirm programme follows Sweden’s 2026 changes to its nuclear framework, which allow new reactors at sites beyond the country’s three existing nuclear plants, subject to government approval and the availability of state financing mechanisms.
