The move follows Fortum's March feasibility study, which identified the BWRX-300 as one of the technologies suitable for new nuclear development in both countries.
"After diligently evaluating several aspects of SMR technologies over the past two years Fortum concluded that the BWRX-300 is a technology for potential deployment in Finland and Sweden," stated Nicole Holmes, GVH Chief Commercial Officer. "We have a long history supporting the nuclear industry in the Nordics and we look forward to working with Fortum as it continues to develop its capabilities for new nuclear."
The agreement enables GVH and Fortum to begin pre-licensing and engineering work to assess site-specific requirements for the BWRX-300, aiming for potential deployment in the second half of the 2030s.
The BWRX-300 is a 300 MW, 10th generation boiling water reactor that draws on decades of operational experience. Its development incorporates a proven delivery model and benefits from GVH's expertise in navigating multinational regulatory frameworks.
The reactor continues to gain international traction. In May, Ontario Power Generation (OPG) received provincial approval to begin construction of the first BWRX-300 unit at the Darlington site near Toronto, with a total of four units planned. The first unit is expected to be operational by the end of the decade.
Also in May, the Tennessee Valley Authority (TVA) submitted a construction permit application to the U.S. Nuclear Regulatory Commission for the first BWRX-300 in the United States, to be built at its Clinch River site in Oak Ridge, Tennessee.
These milestones reinforce GVH's growing leadership in the global SMR market, positioning Fortum to leverage that momentum for potential Nordic deployments.
Related Links
GE Vernova Hitachi Nuclear Energy
Nuclear Power News - Nuclear Science, Nuclear Technology
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