Fortum and Rolls-Royce SMR have signed a memorandum of understanding (MoU) to jointly explore the opportunities for the deployment of small modular reactors (SMR) in Finland and Sweden.
Fortum’s strategic priorities are to deliver reliable clean energy and drive decarbonisation in industries in the Nordics. This agreement is part of Fortum’s feasibility study exploring the prerequisites for new nuclear in Finland and Sweden in co-operation with customers and partners.
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.
The MoU is part of Fortum’s Nuclear Feasibility Study launched in November 2022. During the two-year programme, Fortum will explore commercial, technological, and societal, including political, legal and regulatory, conditions both for small modular reactors (SMRs) and conventional large reactors in Finland and Sweden.
The study also investigates new partnerships and business models. In addition to Rolls Royce SMR, Fortum has made co-operation agreements with France’s EDF, Sweden’s Kärnfull Next and Finland’s Helen. Any potential investment decisions will be made at a later stage.
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