GE Vernova advances 1.2 GW Sweden nuclear project

• GE Vernova and partners agreed to advance a four-unit BWRX-300 small modular reactor project in Sweden.
• The planned project could add about 1.2 GW of new nuclear capacity, with the first unit targeted for the mid-2030s.
• The agreement covers commercial, technical, regulatory, and financing work but is not a final investment decision.

GE Vernova (NYSE:GEV) and partners Studsvik, Samsung C&T, and DS Investment Partners agreed to advance a four-unit BWRX-300 small modular reactor project in Sweden with planned capacity of about 1.2 GW.

The project is being considered for either Studsvik’s licensed nuclear site in Nyköping or the greenfield Målma site in Valdemarsvik, with the first reactor unit expected to begin operations in the mid-2030s.

The agreement establishes an exclusive development period covering joint commercial, technical, regulatory, and financing activities, while Studsvik will lead permitting, environmental assessments, site rights, and government discussions, and GE Vernova Hitachi and Samsung C&T will provide reactor design, licensing support, and engineering, procurement, and construction execution.

The partners stated that a joint project company is planned to own and operate the plants, while the agreement does not represent a final investment decision or construction authorization.

GE Vernova develops energy technologies, including power generation, grid solutions, and nuclear technologies through its businesses.

The planned Swedish project uses GE Vernova Hitachi’s BWRX-300 small modular reactor design, while Studsvik stated that the announcement is not expected to have a material impact on its 2026 earnings.