Business Agreement Signed with Synthos Green Energy for SMR Development Cooperation
Samsung C&T Engineering & Construction Group (hereafter Samsung C&T) is set to expand its business in Central and Eastern Europe through cooperation with a private Polish small modular reactor (SMR) developer.
Samsung C&T announced on the 14th that it has signed a business agreement with Polish private SMR developer Synthos Green Energy for cooperation in European SMR development. From left, Michal Sowobof, Chairman of Synthos Green Energy, and Oh Se-chul, President and CEO of Samsung C&T. Photo by Samsung C&T
On the 14th, Samsung C&T announced that it has signed a business agreement with Synthos Green Energy, which leads Poland's SMR projects and clean energy initiatives in Central and Eastern Europe, to cooperate on European SMR development. The signing ceremony was attended by Michal Solowow, Chairman of Synthos Green Energy, Rafal Kaspr?w, President of Synthos Green Energy, and Oh Secheol, CEO of Samsung C&T Engineering & Construction Group.
Synthos Green Energy aims to build up to 24 SMRs, including Poland's first SMR power plant, by the early 2030s using the 'BWRX-300,' which is considered one of the leading SMR technologies. The company also plans to expand its SMR business to other Central and Eastern European countries, including the Czech Republic, Hungary, Lithuania, Bulgaria, and Romania.
Through this business agreement, the two companies will cooperate on feasibility studies, site surveys, and environmental impact assessments required for the development of the Polish SMR project.
The 'BWRX-300' is a 300MW-class SMR technology based on an improved boiling water reactor (BWR), developed by GE Vernova Hitachi Nuclear Energy, a joint venture between GE of the United States and Hitachi of Japan. It is currently under construction for the Ontario project in Canada, which is the first SMR in the Western world, and Sweden's state-owned utility Vattenfall has selected the 'BWRX-300' as the final candidate for the Ringhals nuclear power plant project in Sweden.
Oh Secheol, CEO of Samsung C&T, stated, "Close cooperation with Synthos Green Energy will serve as a milestone in establishing a foothold for entry into Poland and Central and Eastern Europe."
Rafal Kaspr?w, President of Synthos Green Energy, said, "By combining Samsung C&T's global nuclear power capabilities with Synthos Green Energy's SMR business competitiveness, we hope to enhance the potential of the Polish SMR project and provide safe and sustainable energy solutions in Europe."
In October, Samsung C&T signed a strategic partnership with GE Vernova Hitachi Nuclear Energy (GVH) to expand its SMR business in Europe, Southeast Asia, and the Middle East, and held a Swedish SMR supply chain event. Through this cooperation, Samsung C&T aims to solidify its position as a key player in the European SMR market.
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