Kärnfull Next Plans Major SMR Campus in Valdemarsvik

“We are very enthusiastic about the indications from our preliminary study in Valdemarsvik. This site has potential to become a key component in our program to supply large amounts of stable and sustainable energy to regions with significant capacity needs, and create substantial economic and social benefits for the local communities” said Christian Sjölander, CEO of Kärnfull Next.

Kärnfull Next has entered into an exclusive partnership agreement with landowner Latona Group for the exploration rights for nuclear power on the Valdemarsvik Målma 4:9 (2) property. The ongoing study, expected to be finalized after the summer, has shown promising preliminary results leading the companies to jointly inform the municipality, site neighbours and now the general public about the plans for an SMR Campus.

The property includes areas identified as suitable for nuclear power as far back as the 1970s, including in Centrala Driftledningen’s report "Location of Large Coastal Power Plants" from 1972. With over 1300 hectares in total, the site is appealing for co-location with 2030s energy-intensive industries, such as AI data centers.

“We are very pleased to collaborate with Kärnfull Next on this exciting project. The property is believed to offer uniquely favorable conditions for nuclear power, and we look forward to being part of the development of fossil-free energy production in the region. This initiative is likely to create significant value for Valdemarsvik and its residents,” said Gustav Carp, owner of Latona Group.

Location, topography and cooling conditions in a forward-looking municipality with extensive undeveloped areas are examples of early indications of a positive outcome from the current stage. The project in Valdemarsvik offers significant opportunities for local job creation – a single SMR is estimated to create around five hundred direct and indirect jobs per year for seventy years.

The SMR park in Valdemarsvik is initially planned to host between four and six small light water reactors, adding between 10-15 terawatt-hours (TWh) of fossil-free and dispatchable electricity production per year. As a reference, Sweden’s existing nuclear fleet produced 47 TWh of electricity last year.

Kärnfull Next has been conducting feasibility studies in several municipalities in Sweden since 2022. By establishing multiple SMR parks as part of the same program, the company expects to achieve economies of scale in terms of technology selection, construction partners, power purchase agreements (PPAs), and financing partners. 

In August 2023, Nyköping was announced as another candidate site within the program, and further feasibility studies are looking likely to reach sufficient maturity to be announced later this year. If all goes according to plan and Valdemarsvik is selected as the first municipality for Re:Firm South, the first kilowatt-hours of clean and reliable electricity from the SMR park could be delivered in the first half of the 2030s.