Fennovoima

Rosatom woos EU with guaranteed low electricity price

Thursday, April 16, 2015

An official of Russian state nuclear firm Rosatom told a Brussels audience that his company could guarantee a levelized price for electricity of $50/MWh from new nuclear plants it builds, if the client chooses the firm's services for their lifecycle. According to EU policies, however, fuel supply should be diversified.

Speaking at an event organised by New Nuclear Watch Europe, Kirill Komarov, First Deputy CEO of Rosatom, said that his company was the only one able to guarantee a low price for electricity, if European countries chose the full package of its services.

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Finland under more pressure over Russian N-plant plan

Monday, September 29, 2014

Finland’s government has come under renewed pressure over its decision to approve a Russian-built nuclear reactor after legal experts questioned the independence of the economy minister responsible for the plan.

There were claims that technical plans for the plant were based on a flawed and outdated design by Rosatom, the Russian state-owned company that holds a 34 per cent stake in the project.

Olli Rehn, the Finish MEP and former EU economics commissioner, wrote on his blog on Sunday night that the plan for the Fennovoima nuclear plant was “economically uncertain and politically crippled”.

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Vapaavuori expects decision on Fennovoima nuclear plant in August

Tuesday, May 20, 2014

Economic Affairs Minister Jan Vapaavuori says government isn’t likely to make a decision on the construction of a nuclear power plant by the power consortium Fennovoima before August. Vapaavuori told Yle that the project is still important to the main government partner the National Coalition Party.

Speaking on Yle’s Aamu-tv breakfast programme Tuesday Vapaavuori confirmed that the government wouldn’t be making a decision on the proposed nuclear power plant in Pyhäjoki, northwest Finland until August.

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Finland's Kesko drops out of Fennovoima nuclear project

Thursday, March 27, 2014

(Reuters) - Finnish retailer Kesko on Thursday said it would drop out of the Fennovoima consortium and its planned 4-6 billion euro nuclear reactor, citing increased risks in the project.

Following Kesko's exit, Fennovoima's Finnish ownership could drop below the required 50 percent of shares, complicating the project.

Russia's state-owned Rosatom, which is due to supply the reactor, has taken a 34-percent stake in the project, and Fennovoima's Finnish owners, including 43 companies, have been looking for new Finnish investors.

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More partners pull out of Fennovoima nuclear project

Friday, November 15, 2013

The consortium of Finnish power companies backing a planned nuclear power plant in Pyhäjoki, western Finland is shrinking. Some 15 members of the Fennovoima public power consortium announced Thursday that they were pulling out of the project, leaving 45 partners still on board.

Thursday’s development saw 15 members of the Voimaosakeyhtiö SF announce their withdrawal from the planned nuclear power project in Ostrobothnia, western Finland. Voimaosakeyhtiö is a power consortium comprising 67 companies who jointly own Fennovoima.

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Fennovoima taps Russian supplier for nuke project

Wednesday, September 4, 2013

The Finnish power group Fennovoima has selected the Russian state nuclear company Rosatom to build its nuclear reactor in Pyhäjoki, northern Finland.

Fennovoima said on Tuesday that it will propose to its shareholders that a deal with Rosatom be signed by the end of this year, with the Russian firm taking a 34 percent stake in the project.

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Finland's Fennovoima says may downsize reactor project

Monday, February 25, 2013

HELSINKI, Feb 25 (Reuters) - Finnish nuclear consortium Fennovoima said it was considering scaling back its planned nuclear reactor project in northern Finland after the exit of its top investor German utility E.ON.

It said it would choose Japan's Toshiba if it went ahead with original plans for a large, 1,600-megawatt reactor, dropping Areva who was previously another candidate.

Areva, Toshiba and Russia's Rosatom could be suppliers for a medium-sized reactor, Fennovoima said.

It said it aimed to choose the reactor supplier this year.

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Posiva: No room for Fennovoima waste in nuclear cave

Wednesday, October 5, 2011

The project director of the Olkiluoto 3 nuclear power plant, Posiva President Reijo Sundell, insists there is no space for waste from utilities other than TVO or Fortum in the Onkalo underground disposal site on Finland's west coast.

Onkalo (or ‘cave’) is being dug into the bedrock near the Olkiluoto power station by Posiva, which is 60 percent owned by TVO and 40 percent by Fortum. The latter utility owns two commercial reactors in Loviisa on the south-east coast, and has applied to build a third. TVO has two operating reactors on Olkiluoto, an island in the municipality of Eurajoki, on the west coast between Rauma and Pori.

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Finland – land of uranium

Tuesday, January 18, 2011

The Decision-in-Principle (DiP) in 2002 to build a fifth nuclear power plant made Finland the center of attention when the nuclear power industry began to see its chances. Finland is the first country to have made a decision on final storage of nuclear waste. Finland is also the only Nordic country in which energy consumption is rising.

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Suddenly, A Rush for Nuclear Applications

Tuesday, April 22, 2008

The utility Teollisuuden Voima (TVO) plans to submit its application to build a sixth nuclear reactor this spring. The rapid timing came as a surprise to the rival Fennovoima consortium, which is not planning to hand in its application until next year. The state says it wants any groups interested in building a new nuclear unit to apply for a permit within the next few months.

Minister of Economic Affairs Mauri Pekkarinen says he wants all applications on his desk at the same time, and soon. He adds that he does not intend to wait for many months after receiving the first application -- which could be as soon as May.

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