Finnish nuclear power company Fennovoima and Rusatom have agreed on a proposal aiming at making an investment decision and signing a power plant supply contract by the end of 2013. As a result of negotiations Fennovoima proposes to its owners a nuclear power plant that, according to the schedule agreed with Rosatom, will produce electricity in 2024. Fennovoima’s nuclear power plant unit is to be built in Pyhäjoki, located in Northern Ostrobothnia. The site was chosen in 2011 based on years of studies.
Based on the proposal, Fennovoima’s 60 Finnish owners each decide by the end of October for their part if they are continuing in the project.
Fennovoima and Rosatom’s target is to sign the contract for supplying Fennovoima’s Hanhikivi 1 power plant unit at the end of the year. Simultaneously the companies will agree upon the detailed project schedule, financing arrangements, and Rosatom’s 34% ownership.
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