December 22, 2024

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From left: Karnfull Next CEO Christian Sjolander, South Korean Trade Minister Jeong In-kyo, and Samsung C&T CEO Oh Se-chul pose at a memorandum of understanding signing event in Seoul on Thursday. (Samsung C&T)

Samsung C&T said Friday that it has signed a memorandum of understanding with Swedish small modular reactor developer Karnfull Next as part of efforts to advance its SMR business in Europe.

A signing ceremony was held in Seoul on Thursday, attended by Karnfull Next CEO Christian Sjolander, South Korea's Trade Minister Jeong In-kyo and Samsung C&T CEO Oh Se-chul.

Karnfull Next, a subsidiary of the private nuclear power company Karnfull Energi, specializes in SMR development. The agreement focuses on addressing the rising electricity demand for data centers operated by global tech giants, according to Samsung C&T.

Samsung C&T explained that the partnership aligns with Sweden's push to meet increasing energy demands driven by global tech giants such as Microsoft and Amazon, which recently announced plans to expand their data center operations in the country.

To meet rising electricity demand from data centers and industries, Sweden is advancing its nuclear energy initiatives, including SMR technology. The country aims to add at least 2,500 megawatts of nuclear power capacity by 2035 and expand further with large-scale nuclear plants, including SMRs, by 2050.

Karnfull Next has recently completed site evaluations in two locations in southeastern Sweden for future SMR power plant operations. Samsung C&T and Karnfull Next plan to begin follow-up tasks, including technology selection and environmental impact assessments.

“Samsung C&T and Karnfull Next aim to build an SMR power plant by 2032, with electricity directly supplied to data centers in Sweden,” a Samsung C&T official said. “The plan includes constructing multiple power plants and continuously attracting data centers to develop integrated campus-style facilities.”

Additionally, in June, Samsung C&T signed an agreement with Romania’s nuclear energy corporation to jointly conduct front-end engineering design for an SMR project.

By Hwang Joo-young (flylikekite@heraldcorp.com)