Finnish ministers: Fennovoima reactor will go ahead

The Fennovoima nuclear power plant is planned built with technology from Rosatom.

Prime Minister Sipilä confirms that the Fennovoima nuclear plant will be built in Pyhäjoki, after Economic Affairs Minister Rehn declares that the domestic ownership criterion has been met.


Finnish Prime Minister Juha Sipilä said on Wednesday morning that the Fennovoima nuclear power plant will be approved. Rehn declared that the consortium that aims to build Finland’s third nuclear plant has now attained the required 60 percent domestic or EU/EEA ownership level, Yle reports.

Earlier in the day, Finland’s largest power company, Fortum, announced that it will acquire a 6.6 percent share in the venture. Fortum had earlier stipulated that its participation would be contingent on reaching a major hydro-electric deal with Russian power company TGC-1, which is has sought since last December. The Russian firm Rosatom aims to build, supply and own nearly one-third of the Fennovoima facility. With no approval forthcoming from Moscow for the water-power contract, Fortum has apparently now backed down from its earlier demand, Yle writes..

The Council of State is to formally decide on Thursday whether to approve the long-debated project.