Fortum for fourth Olkiluoto unit

03 November 2011

Finnish utility Fortum will participate in the financing of the bidding and engineering phase of the proposed fourth unit at Olkiluoto.
Fortum owns a stake of about 26% in Teollisuuden Voima Oyj (TVO), a non-profit company that delivers electricity to its shareholders at cost price. It has said that it will take "a corresponding stake" in the bidding and engineering phase of the new unit.
The shareholders of TVO will make the final decision on commencing that stage, Fortum noted.

Olkiluoto 3 simulator (L-3 MAPPS)
The full scope simulator for Olkiluoto 3 - the first for an EPR plant - was commissioned in July and is now being used by Areva to support training exercises (Image: L-3 MAPPS)

Three separate proposals had been submitted to the Finnish government for the construction of new power reactors in the country. The Finnish parliament issued a decision-in-principle in July 2010 for the construction of Olkiluoto 4 by TVO, as well as a new plant in the north of the country proposed by Fennovoima. However, Fortum was denied a decision-in-principle for the construction of a third reactor at its Loviisa site in south-eastern Finland.
According to the terms of TVO's decision-in-principle for Olkiluoto 4, the application for a construction licence for the reactor must be filed by June 2015.
Researched and written
by World Nuclear News