Estonia’s Fermi Energia and South Korea’s Samsung C&T Corporation Engineering and Construction Group (Samsung C&T) have concluded a collaborative agreement to prepare for the construction of two BWRX-300 small modular reactors (SMRs) in Estonia. This follows a Memorandum of Understanding between the two companies signed in November 2024
Fermi Energy and Samsung C&T will develop the necessary framework for the construction of SMRs up to 600 MWe. This will include the establishment of the Design, Procurement & Construction Partnership (EPC), the evaluation of location building opportunities, the cost forecast and funding strategies. The agreement stipulates that Samsung C&T will have the opportunity to become the leading EPC contractor for the Estonian small reactor project.
“Estonia’s GDP per capita is $30,000, which is comparable to South Korea’s $33,000, said Kalev Kalmets, CEO of Fermi Energy. “Nuclear energy is not a simple technology, and in a small country like Estonia it only works with reliable and democratic partners. South Korea is already an important partner in the Estonian defence industry.”
Under the agreement, Fermi Energy and Samsung C&T will work together in the pre-construction design (Pre-FEED) phase to agree on the terms of the project and draw up an initial budget. There are also plans for a full-scale design phase (FEED) that provides a basis for applying for regulatory permits and starting construction.
Through this partnership, Samsung C&T wants to participate in a project of at least 10-15 BWRX-300 reactors throughout the northern Europe achieving economies of scale and reducing the risks associated with project implementation.
Fermi Energia was founded in 2019 to build the Estonian SMR. In July 2019, the company launched a feasibility study on the suitability of SMRs for Estonia’s electricity supply and climate goals beyond 2030, following a financing round from investors and shareholders.
In February 2023, the company selected GE Hitachi Nuclear Energy’s BWRX-300 SMR for potential deployment by the early 2030s. GEH’s BWRX-300 design is a 300 MWe water-cooled, natural circulation SMR with passive safety systems that leverages the design and licensing basis of GEH’s ESBWR boiling water reactor.
In January, Fermi Energia applied to Estonia’s Ministry of Economic Affairs & Communications to begin the state spatial planning process for a 600 MW nuclear power plant. The municipal councils of Viru-Nigula and Lüganuse have agreed to participate in the process. Fermi Energia expects to submit a construction permit application for the proposed plant in 2029, with construction targeted to begin in 2031. The first of two SMRs is set to be operational by the second half of 2035.
