Kalev Kalmets, CEO of Fermi Energia, highlighted the alignment between the two nations, stating: “Estonia’s GDP per capita is $30,000, which is comparable to South Korea’s $33,000. Nuclear energy is not a simple technology, and in a small country like Estonia it only works with reliable and democratic partners. South Korea is already an important partner in the Estonian defence industry.” The partnership will begin with a pre-construction design phase (Pre-FEED) to define project terms and outline an initial budget, followed by a full-scale design phase (FEED) to support regulatory approvals and construction readiness.
Fermi Energia, established in 2019, aims to introduce SMRs to meet Estonia’s energy and climate goals beyond 2030. In July 2019, the company initiated a feasibility study on SMR suitability, backed by investor funding. In February 2023, it selected GE Hitachi Nuclear Energy’s BWRX-300, a 300 MWe water-cooled SMR with passive safety features, for deployment by the early 2030s. Samsung C&T sees this as a stepping stone to potentially develop 10-15 BWRX-300 reactors across northern Europe, enhancing efficiency and reducing project risks.
In January, Fermi Energia requested Estonia’s Ministry of Economic Affairs & Communications to start spatial planning for a 600 MW nuclear facility. The municipalities of Viru-Nigula and Lüganuse have agreed to participate. The company plans to apply for a construction permit in 2029, with building work starting in 2031 and the first SMR operational by mid-2035. This collaboration leverages South Korea’s engineering expertise and Estonia’s strategic vision to advance sustainable energy solutions in the region.
