Fermi Energia and Vattenfall extend cooperation to build small modular reactor plant

Vattenfall, the Swedish energy company that participated in a feasibility study for a small modular reactor in Estonia, signed an agreement at the end of last week to intensify cooperation with Fermi Energia.

"We have noticed a growing interest in small modular reactors. Our cooperation with Fermi Energy is aimed at supporting the company's goal to build Europe's first small modular reactor in Estonia. We are now deepening our research in specific areas and will work together until a proposal is submitted to the Estonian Parliament for a decision in principle to build a small modular reactor. The cooperation with Fermi Energy will give Vattenfall expertise in an area we are developing in-house," said Torbjörn Wahlborg, Vattenfall's Vice President for Power Generation.

The aim of the cooperation is to assess more precisely the technological maturity of small modular reactors and the suitability of these technologies for deployment in Estonia. In addition to Vattenfall, other European energy companies are also participating in the studies and contributing their expertise.

"We are delighted to be working with one of Europe's leading nuclear power companies, which has set a target to decarbonise within a generation. Safer, simpler, cheaper and smaller technologies will make nuclear power also available to Estonia and a sensible solution to ensure security of electricity supply. This has also been recognised at government level, which has decided to set up a Nuclear Energy Task Force. It is a complex area, but so is the goal of achieving true carbon neutrality in all areas of life in the Nordic countries," said Kalev Kallemets, Member of the Board of Fermi Energia.

Although Estonia has fulfilled its official commitment to reduce CO2 emissions to the required levels, it remains the most polluting electricity producing country in Europe. Sweden, on the other hand, has some of the lowest CO2 emissions in the world and is virtually fossil fuel free thanks to hydro, nuclear, bio and wind power.

"Vattenfall will share with Fermi Energy its expertise in the construction of nuclear power plants, more specifically in project financing and feasibility studies, as well as in the areas of personnel, training, operation and supply chains," added Mats Ladeborn, Vattenfall's Head of Power Plant Development.

"Nuclear energy has very low CO2 emissions and will help reduce Europe's dependence on fossil fuels. The advent of small modular reactors on the market offers new opportunities for the use of nuclear energy, and it is natural for Vattenfall to keep pace with developments in areas that we ourselves also use in energy production. The transition of the Estonian energy industry to cleaner production would have a significant positive impact on the achievement of the EU's climate targets as a whole," Mats Ladeborn added.

In addition, Fermi Energia signed a similar cooperation agreement with Fortum Oyj, the Finnish national energy company, on Monday last week.

Vattenfall AB is the fifth largest electricity producer in Europe, owned by the Swedish state, employing around 20 000 people, with its main markets in Sweden, Germany, the Netherlands, Denmark and the United Kingdom.

Fermi Energia is a company created by Estonian nuclear experts and entrepreneurs to develop the possibility of a new generation of small modular reactors in Estonia to meet Estonia's energy security and climate goals.