Finnish power group Fortum has decided to take part to the Fennovoima nuclear power project in Finland and to acquire a 6.6% stake in the project. The company is already operating nuclear power plants in Loviisa and Olkiluoto and this limited stake in the project company will enable to proceed within the timeline the Finnish government has set to the project.
Fennovoima is a consortium of Rosatom (34%) and Finnish industrials, which plans to develop a 1,200 MW nuclear power project, Hanhikivi, in northern Finland. Finnish companies SRV and Outokumpu have just acquired 1.8% in Fennovoima (Outokumpu raised its stake to 14.1%) and Finnish companies now hold 65.1% in the project. The project will feature a AES-2006 pressurized water reactor supplied by Rosatom. Fennovoima is expected to file for a construction licence in 2015. The project could be commissioned in 2024.
Negotiations over the restructuring of the Russian territorial generating company, TGC-1, in which Fortum has a 29.45% stake, are still ongoing. In December 2014, Fortum and Gazprom reached an agreement on the restructuring of TGC-1 (Gazprom holds 51.8%), by transferring hydropower assets (40 plants, about 3 GW, 12-13 TWh/year produced on average) to a new company in which Fortum would take a 75% stake in partnership with Rosatom (25%).
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.