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Nuclear future in Finland

Germany
05.08.2015
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Finnish consortium planning to build nuclear reactor clears hurdle
A Finnish consortium that plans to build a new nuclear reactor in the Nordic country cleared a hurdle Wednesday after securing sufficient domestic ownership to be considered by the government.
GALLERY
Helsinki (dpa) - Economic Affairs Minister Olli Rehn said the updated ownership list showed domestic ownership in the consortium Fennovoima was over 60 per cent, the level stipulated by the government and parliament.
A view of the Fennovoima company name at a door at the companys headquarters in Helsinki, Finland, 26 October 2012.


"We need nuclear power during a transition period, and (in order) to drop coal during the 2020s," Rehn told reporters.

Finland also needs to increase its domestic electricity production, he added.

At the end of June, Fennovoima applied for permission to build a nuclear reactor in northern Pyhäjoki on the Gulf of Bothnia. It was asked to provide additional ownership details by August 6.
The Onkalo spent nuclear fuel repository is a deep geological repository for the final disposal of spent nuclear fuel, the first such repository in the world. It is currently under construction at the Olkiluoto Nuclear Power Plant in the municipality of Eurajoki, on the west coast of Finland, by the company Posiva.

The consortium on Wednesday said domestic ownership was 65.1 per cent with the new additions of construction firm SRV and utility Fortum, while previous shareholder steel group Outokumpu had increased its stake.

Finland operates four reactors that provide almost 30 per cent of its electricity. A fifth reactor under construction in Olkiluoto, south-western Finland, has suffered serious delays.

Fennovoima had earlier selected Russian state energy firm Rosatom‘s overseas arm to supply the reactor to the Pyhäjoki plant. Rosatom has a 34-per-cent stake in the consortium.

The ministry said the review process is expected to take two years.

 

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