The ability of Europe to remain competitive in the decades ahead will hinge on whether it can guarantee secure and affordable energy that enables its industries to grow, protects households from volatility and strengthens strategic resilience. Electricity demand is accelerating, as many sectors and industries look for dependable power. Europe cannot afford to rely solely on variable generation: it needs solutions that are both scalable and ready to deliver.

Small Modular Reactors (SMRs) offer Europe a way to combine firm, low-carbon power with system flexibility, complementing renewables while ensuring that industries and households have access to reliable and available energy. Their role in Europe is the focus of tomorrow's GE Vernova event, titled "Unlocking Europe's SMR Potential: From Policy to Skills", which brings together EU decision-makers to explore how SMRs can move from policy debate to deployment. SMRs' global momentum offers Europe the chance to turn ambition into delivery and build a more resilient, competitive energy policy.

Powering competitiveness and security

SMRs deliver continuous electricity with capacity factors above 90%. This reliability provides the stable cost base industries need to plan and ensures grids have firm capacity to complement renewables. As Europe's digital sector grows, SMRs can also supply data centres with secure, cleaner power close to major hubs without adding stress to the wider system.

Beyond electricity, SMRs can also provide the high-temperature heat required to decarbonise industries such as steel, cement and chemicals, keeping them globally competitive while reducing emissions. In Northern, Central, and Eastern Europe, they can supply district heating networks that are still reliant on fossil fuels, offering a lower-carbon and more secure alternative that improves air quality.

SMRs also enable continuous, more cost-effective hydrogen production, making them central to Europe's ambition to build a clean hydrogen economy. Taken together, these applications show why SMRs matter for Europe's competitiveness: they ensure reliable supply, unlock industrial decarbonisation, and underpin the sectors that will define Europe's economic future, from advanced manufacturing to digital infrastructure.Projects based on SMRs are no longer theoretical. In Poland, GE Vernova is working with ORLEN Synthos Green Energy (OSGE) with plans to deploy a fleet of GE Vernova Hitachi BWRX-300 units, backed by strong national commitment and international financing. In July 2025, Slovak power utility Slovenské Elektrárne (SE) has signed a memorandum of understanding (MOU) to review cooperation in the development and deployment of small modular reactors (SMRs), while Hungarian nuclear energy development firm Hunatom signed a letter of intent with OSGE to support the construction of up to 10 BWRX-300 SMR units. In Sweden, the same model has been shortlisted by Vattenfall in its SMR programme, and was also chosen in Finland by Fortum as a preferred SMR technology, recognising its maturity and readiness for near-term deployment. In Canada, at Ontario Power Generation's Darlington site, construction of the first BWRX-300 is underway, with operation expected by 2030. More countries are seriously considering deployment of BWRX-300 within their respective national SMR programmes.

Creating the right conditions in Europe

For Europe to realise this potential, the policy framework must match the pace of technology. The diversity of national licensing procedures remains a barrier, and greater convergence and mutual recognition would help reduce costs and accelerate deployment. Financing is equally important. Even though SMRs typically require smaller capital commitments than traditional reactors, they are still major infrastructure projects that depend on stable and competitive financial conditions. European instruments such as the Innovation Fund, InvestEU and the European Investment Bank can play a decisive role in attracting private investment and de-risking early projects.

Equally urgent is the task of rebuilding Europe's nuclear skills base and developing resilient supply chains, since both will determine whether deployment can scale up on time and at cost. Training programmes, industrial alliances and collaboration with universities are essential to secure the engineers, technicians, and operators Europe will need, while the development of European capabilities in reactor components, fuel, and services will strengthen reliability, reduce costs, and create high-quality jobs. SMRs, with their modular and repeatable designs, are particularly suited to industrial scaling, and Europe should ensure that its companies capture these opportunities.

A strategic choice

SMRs should be seen not simply as another technology, but as a strategic asset that can underpin Europe's resilience, competitiveness, and security. They provide dependable power to complement renewables, open opportunities in digital infrastructure, district heating, and hydrogen, and contribute to long-term price stability for consumers and industries alike.

Tomorrow's debate in the European Parliament, hosted by Slovenian MEP Matej Tonin, underlines the growing recognition that Europe cannot rely on intermittent resources alone. The choice now is whether to act decisively and move forward with deployment, or risk watching others take the lead.

GE Vernova, with proven technology, decades of operational experience, and a global pipeline already moving into construction, is prepared to play a central role in helping Europe translate policy debate on SMRs into real deployment and long-term competitiveness. The decisions taken now will determine whether Europe secures a reliable and competitive energy future, and SMRs can and should be at the heart of that solution.

Roger Martella is Chief Corporate Officer & Chief Sustainability Officer at GE Vernova.

Unlocking Europe's SMR Potential | Euractiv