15 Nov (NucNet): Fennovoima is planning to sign a nuclear power plant supply contract with Russia’s state nuclear energy corporation Rosatom after a majority of shareholders decided they wanted to proceed with the project to build a new nuclear reactor in Finland.
The 60 shareholders of Voimaosakeyhtiö SF, the consortium that owns Fennovoima, had until the end of October to decide whether they wanted to continue taking part in the project to build the Hanhikivi-1 nuclear power plant at Pyhäjoki in northwest Finland.
Voimaosakeyhtiö said in a statement yesterday that 45 of the shareholders decided to continue and that the supply contract could be signed with Rosatom by the end of the year.
Hanhikivi-1, a 1,200-megawatt VVER pressurised water reactor of the AES-2006 type, is scheduled to enter commercial operation in 2024, the statement said.
As the result of the decisions, 84 per cent of the energy production of the planned plant is now reserved. The Voimaosakeyhtiö SF shareholder companies that have decided to continue with the project have reserved slightly over half (50.28 percent) of production. Rosatom’s planned share in the project is 34 percent of Fennovoima.
Fifteen members decided to give up their shares in the company. Over the coming months Voimaosakeyhtiö will carry out “internal ownership rearrangements” as some members choose to increase or decrease their shares. The company said it might also admit new owners to the project.
Finland has four nuclear units in commercial operation and one, the Olkiluoto-3 EPR, under construction.
