Finland's TVO postpones next nuclear plant

Wednesday, May 21, 2014

HELSINKI May 20 (Reuters) - Finnish utility Teollisuuden Voima on Tuesday asked for a five-year extension to submit a construction license application for Olkiluoto 4 nuclear unit.

The consortium was due to apply for the Olkiluoto 4 construction license by 2015, but problems at its current plant project make decision-making regarding the following project impossible by that, it said.

The current project, Olkiluoto 3, has been hit by repeated delays and soaring costs, and its start-up is estimated to be in 2016, compared to its original target of 2009.

TVO estimated Olkiluoto 4 would start power production during the latter half of 2020's. The parliament approved the plan for that reactor in 2010.

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