The aim is to develop an efficient and reliable SMR deployment programme that will lead to successful licensing and financing of multiple SMR units in Estonia. This will help ensure affordable energy independence and decarbonisation.
Fermi Energia chief executive officer Kalev Kallemets said nuclear energy is clean and carbon-free, which is why the European Union has concluded it meets the criteria for sustainable financing as part of its sustainable finance taxonomy.
Estonia produces most of its electricity from oil shale or imports it from neighbouring countries. Since 2019, Fermi Energia has been researching the possibility of developing and commissioning SMRs in Estonia to ensure a stable, clean and secure electricity supply in all weathers.
Laurentis said SMRs are being explored worldwide as a cost-effective way to add nuclear energy to a region’s energy source. They are seen as a reliable, non-intermittent and low-carbon source of electricity generation, useful in the fight against climate change.
“Small” generally means 300 MW or less, while “modular” means reactor components can be manufactured in a factory and shipped to sites for installation, for economies of scale in construction.
Laurentis is a subsidiary of Canada's largest energy company, Ontario Power Generation (OPG). It provides small reactor development services including feasibility studies, planning, construction, deployment, operation and sustainability.