Finnish power company Fortum and Rolls-Royce SMR have signed a memorandum of understanding (MOU) to explore opportunities for the deployment of small modular reactors (SMR) in Finland and Sweden. In October, Fortum began a two-year feasibility study to explore prerequisites for new nuclear. As part of the study, Fortum is examining commercial, technological, political, legal and regulatory, conditions both for small modular reactors (SMRs) and conventional large reactors in Finland and Sweden.
Fortum's Head of New Build Feasibility Study, Laurent Leveugle, said: "Fortum is happy to start a collaboration with Rolls-Royce SMR which is one of the forerunners in the small modular reactor industry. We are especially interested in learning more about Rolls-Royce SMR's delivery model considering Rolls-Royce's historical industrial experience."
Alan Woods, Director of Strategy & Business Development for Rolls-Royce SMR noted that the importance of energy security has increased dramatically. “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."
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 based on standard nuclear energy technology. The design has been accepted for Generic Design Assessment review in the UK with a view to UK regulatory approval by mid-2024. A Rolls-Royce-led UK SMR consortium aims to build 16 SMRs and expects to complete its first unit in the early 2030s. Rolls Royce is also discussing deployment of its SMR with the Czech Republic, Poland, Estonia and the Netherlands.
Fortum, which owns and operates the Loviisa NPP in Finland, at the end of 2022 signed agreements for collaboration on SMRs, under its feasibility study, with Sweden’s Kärnfull Next, Electricité de France (EDF) and Finnish energy company, Helen. In 2021, Fortum and Fermi Energia completed a licensing model study for SMR deployment in Estonia. In 2020, Fortum and Massachusetts Institute of Technology (MIT) began a three-year collaborative project to create an open-source tool for technical-economic modelling of SMR development projects.
Image (L-R): Olli Kymäläinen, Technical Director, Fortum; Tuomo Huttunen, Head of Business Development, Nordics, Rolls -Royce SMR; Laurent Leveugle, Head of Newbuild Feasibility Study, Fortum; and Sophie Macfarlane-Smith, Head of Customer Engagement, Rolls-Royce SMR (courtesy of Rolls-Royce SMR)
