Helen, an energy company owned by the city of Helsinki (Finland), and Steady Energy have signed a letter of intent (LoI) to collaborate on small nuclear reactors (SMRs), aiming to establish a heat-producing nuclear power plant in Finland. Their plans include legislative reforms and pre-investment agreements, with the potential to acquire up to ten 50 MW reactor units. Helen is committed to achieving carbon-neutral energy production by 2030, and small-scale nuclear power is part of their strategy.
Finland has currently five nuclear reactors: two BWR reactors (890 MW each Olkiluoto 1 and 2), a new 1,600 MW EPR (Olkiluoto 3, commissioned in April 2023) and two Russian technology 507 MW VVER reactors (Loviisa 1 and 2). Licenses for Olkiluoto-1 and 2 were extended for 20 years to 2038 in 2018; the licence to operate the two Loviisa reactors until the end of 2050 was approved in February 2023.
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