Finnish power company Teollisuuden Voima Oyj (TVO) has decided not to apply for a construction license for its Olkiluoto-4 nuclear project in Finland.
In 2008 TVO applied to build the Olkiluoto 4 (OL4) project, with a capacity of between 1 450 MW and 1 750 MW, expected to be commissioned in 2020. The project received a positive decision-in-principle by the Government and Parliament in 2010 and TVO had to apply for a construction license before 30 June 2015. However, delays in the development of TVO's Olkiluoto-3 project (scheduled for 2018 instead of 2009) incited the group to delay the project. In September 2014, the Finnish Government rejected TVO's application for a five-year extension of the existing Decision-in-Principle and to postpone the application for a building permit from mid-2015 until 2020 at the latest. TVO will now have to apply for a new decision-in-principle for Olkuluoto 4.
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