Jun 25, 2025
Norwegian SMR project development company established.
A new company has been created to develop a nuclear power plant near the Mongstad oil refinery in Norway. Norsk Kjernekraft has teamed up with France's Hexana to explore collaborative opportunities for deploying advanced nuclear technologies in Norway.
Norsk Kjernekraft, in collaboration with Austrheim Municipality, has formed Fensfjorden Kjernekraft AS to potentially deploy a nuclear power plant featuring several small modular reactors (SMRs).
The proposed plant will be located near Equinor's facility at Mongstad, which is the largest point source of CO2 emissions in Norway. It is expected to provide up to 1280 MWe of power, generating about twice the electricity of Norway's largest hydroelectric power plant.
The company stated, "When fully operational, the power plant will eliminate all emissions from nearby industry and contribute to new developments and long-term value creation, all within a footprint that's only one-thousandth of that of alternative emission-free energy sources."
In August 2024, Norsk Kjernekraft signed a memorandum of understanding with South Korea's DL Energy and DL E&C to evaluate the feasibility of building a nuclear power plant at the Mongstad oil refinery.
Norsk Kjernekraft indicated that the feasibility study shows "very good conditions for nuclear power in the area," having considered technology from American X-Energy.
Fensfjorden Kjernekraft will now initiate further site investigations, starting with the impact assessment process in collaboration with Norwegian authorities. After completing the necessary studies, the company will apply for licenses and permits as per Norwegian regulations.
"With efficient processing without unnecessary delays, we aim for the first components of the power plant to be completed and operational by 2035," stated Norsk Kjernekraft.
Austrheim Mayor Morten Sognnes remarked, "With the establishment of Fensfjorden Kjernekraft AS, we are taking a significant step towards potentially realizing a nuclear power plant in the municipality. We know modern nuclear power with SMR technology is safe and sustainable, providing significant stable energy for both businesses and residents for generations."
Norsk Kjernekraft CEO Jonny Hesthammer praised the municipality for its supportive collaboration, noting that preliminary studies indicate excellent conditions for successful nuclear power in Austrheim.
Regarding collaboration with Hexana, Norsk Kjernekraft has signed a memorandum to develop a sodium-cooled fast neutron reactor integrated with a high-temperature storage device.
A Hexana facility would consist of two reactors (400 MWt each) connected to a heat storage device. An accompanying conversion system would enable flexible electricity production to compete with gas-fired plants, along with direct heat supply (up to 500°C) for energy-intensive industries.
The partners stated, "The MoU establishes a foundation for future collaboration to meet Norway's industrial decarbonization goals." Key sectors such as petrochemicals, refining, steel, and data centers require dependable, high-temperature, low-carbon energy, and advanced nuclear reactors provide an effective solution for the country’s climate ambitions, long-term energy security, and industrial independence.
Norsk Kjernekraft mentioned that as a potential nuclear power operator in Norway, it will assist Hexana in finding suitable locations, market opportunities, and establishing connections with key industrial and institutional stakeholders.
Norsk Kjernekraft, in collaboration with Austrheim Municipality, has formed Fensfjorden Kjernekraft AS to potentially deploy a nuclear power plant featuring several small modular reactors (SMRs).
The proposed plant will be located near Equinor's facility at Mongstad, which is the largest point source of CO2 emissions in Norway. It is expected to provide up to 1280 MWe of power, generating about twice the electricity of Norway's largest hydroelectric power plant.
The company stated, "When fully operational, the power plant will eliminate all emissions from nearby industry and contribute to new developments and long-term value creation, all within a footprint that's only one-thousandth of that of alternative emission-free energy sources."
In August 2024, Norsk Kjernekraft signed a memorandum of understanding with South Korea's DL Energy and DL E&C to evaluate the feasibility of building a nuclear power plant at the Mongstad oil refinery.
Norsk Kjernekraft indicated that the feasibility study shows "very good conditions for nuclear power in the area," having considered technology from American X-Energy.
Fensfjorden Kjernekraft will now initiate further site investigations, starting with the impact assessment process in collaboration with Norwegian authorities. After completing the necessary studies, the company will apply for licenses and permits as per Norwegian regulations.
"With efficient processing without unnecessary delays, we aim for the first components of the power plant to be completed and operational by 2035," stated Norsk Kjernekraft.
Austrheim Mayor Morten Sognnes remarked, "With the establishment of Fensfjorden Kjernekraft AS, we are taking a significant step towards potentially realizing a nuclear power plant in the municipality. We know modern nuclear power with SMR technology is safe and sustainable, providing significant stable energy for both businesses and residents for generations."
Norsk Kjernekraft CEO Jonny Hesthammer praised the municipality for its supportive collaboration, noting that preliminary studies indicate excellent conditions for successful nuclear power in Austrheim.
Regarding collaboration with Hexana, Norsk Kjernekraft has signed a memorandum to develop a sodium-cooled fast neutron reactor integrated with a high-temperature storage device.
A Hexana facility would consist of two reactors (400 MWt each) connected to a heat storage device. An accompanying conversion system would enable flexible electricity production to compete with gas-fired plants, along with direct heat supply (up to 500°C) for energy-intensive industries.
The partners stated, "The MoU establishes a foundation for future collaboration to meet Norway's industrial decarbonization goals." Key sectors such as petrochemicals, refining, steel, and data centers require dependable, high-temperature, low-carbon energy, and advanced nuclear reactors provide an effective solution for the country’s climate ambitions, long-term energy security, and industrial independence.
Norsk Kjernekraft mentioned that as a potential nuclear power operator in Norway, it will assist Hexana in finding suitable locations, market opportunities, and establishing connections with key industrial and institutional stakeholders.