The Finnish company Fennovoima expects to obtain the building permit for the Hanhikivi-1 nuclear reactor (Pyhäjoki, Finland) in 2019. The company
submitted its application for the permit in June 2015. Hanhikivi-1 will be equipped with a Russian AES-2006 VVER-1200 pressurized water reactor (PWR) with an installed capacity of 1,200 MWe. Fennovoima recalls that the license must be issued by the Finnish Government after a positive assessment from the Radiation and Nuclear Safety Authority (STUK).
34% of Fennovoima is owned by RAOS Voima Oy which is a subsidiary of Rosatom while the remainder is owned by several Finnish industrials of which Fortum. In June 2015, Fennovoima submitted the construction licence application and reached agreements with three companies in 2015 (Fortum acquired 6.6% in the project, SRV 1.8% and Outokompu 1.8%, raising its stake to 14.1%). Preparatory works started in January 2016 and construction will now begin after the award of the building permit in 2019, with first power generation anticipated in 2024. The project is expected to cover around 10% of Finland's energy demand by then.
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