Fortum advances nuclear plans with early works deal

Nordic energy firm Fortum has entered an early works agreement with GE Vernova Hitachi Nuclear Energy (GVH) to advance the potential deployment of the innovative BWRX-300 small modular reactor (SMR).

The deal follows Fortum’s comprehensive two-year feasibility study on new nuclear options, which concluded that the BWRX-300 is among the technologies being considered for future energy needs in Finland and Sweden.

The early works agreement will see GVH and Fortum collaborate on pre-licensing and engineering activities tailored to site adaptation in anticipation of a possible rollout of this nuclear technology during the second half of the 2030s.

The BWRX-300 is a 10th-generation design with 300MW capacity. It builds upon extensive operating experience from previous boiling water reactors while incorporating advanced innovations. GVH leverages its cross-border regulatory expertise to ensure reliable delivery models are utilised for this next-generation technology.

Global momentum around deploying the BWRX-300 continues to grow. In May 2025, the Canadian province of Ontario announced plans to construct four such units at Ontario Power Generation’s Darlington site near Toronto.

In the US, the Tennessee Valley Authority has submitted an application for constructing America’s first BWRX-300 unit at the Clinch River site.

GVH chief commercial officer Nicole Holmes stated: “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.

“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.”

Fortum currently generates 99% of its power from renewable or nuclear sources with one of the lowest specific CO₂ emissions in Europe.

In June 2025, Westinghouse Electric entered an early works agreement with Fortum to explore the potential introduction of an advanced AP1000 reactor to meet growing energy demands in the Nordic region.