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 in Sweden.
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.
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 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.
Image: (From 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).