Samsung C&T signed an agreement with GE Vernova Hitachi Nuclear Energy to market small modular reactors outside North America, targeting Europe, Southeast Asia and the Middle East. The Oct. 6 deal in Stockholm positions the Korean builder to capitalize on its nuclear construction record while the technology remains largely unproven commercially.
The partnership centers on GE Vernova’s BWRX-300 design, a 300-megawatt reactor that promises faster construction times than traditional nuclear plants. The companies cited potential deployment of five units in Sweden, though no binding commitments or financial terms were disclosed.
Samsung C&T points to its work on the 5.6-gigawatt Barakah plant in the United Arab Emirates as evidence of nuclear expertise. Yet small modular reactors face significant hurdles. The global SMR market remains nascent, with estimates ranging from $6 billion to $64 billion in 2025 depending on methodology, reflecting uncertainty about commercial viability.
Only one BWRX-300 is under construction, at Ontario Power Generation’s Darlington site in Canada, with completion expected by decade’s end. Regulatory complexity, high upfront costs and public skepticism about nuclear energy continue to challenge the sector, raising questions about whether the technology can achieve the scale needed for profitability.
