Fermi Energia and Samsung C&T have signed a co-operation agreement to advance the construction of two BWRX-300 small modular reactors (SMRs) in Estonia.
The initiative is a significant step towards bolstering Estonian nuclear energy, aiming to ensure energy security and support climate neutrality goals.
Go deeper with GlobalData
The agreement outlines the development of a framework for constructing small reactors with a capacity of up to 600 megawatts electric.
The collaboration will focus on establishing an engineering, procurement and construction (EPC) partnership, assessing site construction options, estimating costs and devising financing strategies.
Samsung C&T is positioned to become the lead EPC contractor for the Estonian small reactor project.
The agreement builds on a memorandum of understanding signed in November 2024.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFermi Energia CEO Kalev Kallemets stated: “The signing of this co-operation agreement provides the prerequisites for the cost-effective and timely construction of small reactors in Estonia.”
Fermi Energia and Samsung C&T will collaborate in the pre-FEED phase to agree on project terms and prepare an initial budget.
The plan includes conducting a full-scale front-end engineering design phase, laying the groundwork for regulatory permits and construction.
Kallemets went on: “Nuclear energy is not an easy technology and in a small country like Estonia it can only be realised in co-operation with reliable and democratic partners. South Korea is already an important partner in the Estonian defence industry, and Samsung C&T’s experience in nuclear energy and large power projects is key to ensuring that small reactor projects in Estonia and across Northern Europe proceed as planned and stay within budget.”
The collaboration extends beyond Estonia, with both parties recognising the potential for small reactors throughout Northern Europe.
Samsung C&T aims to participate in between 10 and 15 BWRX-300 reactor projects across the region, achieving economies of scale and reducing risks.
In February 2023, GE Hitachi Nuclear Energy secured a contract from Fermi Energia to supply its BWRX-300 small modular reactor, supporting the development of Estonia’s nuclear energy sector.
