Finland approves nuclear power license to Fennovoima

6 May 2010

Energy company Fennovoima has received Decision-in-Principle from the government of Finland, towards construction of a nuclear power plant in the country.

As per the Decision-in-Principle of the government, Fennovoima has to apply for a construction license for the nuclear power plant, within five years, and to elaborate its plans for final depositing of spent fuel, within six years. If Fennovoima is granted a Decision-in-Principle by parliament, the company will examine the possibility to cooperate with the current operators, responsible for nuclear waste management. In case cooperation is not possible, Fennovoima will plan its own final disposal facility. Fennovoima had submitted its Decision-in-Principle application for the government in January 2009. The Radiation and Nuclear Safety Authority, Finland gave its positive statement on the application. If parliament ratifies the Decision-in-Principle of the government, Fennovoima will build a nuclear power plant in Northern Finland, in either Pyhäjoki or Simo. Fennovoima will choose the location of the nuclear power plant in the beginning of 2011. The excavation work at the chosen site will start in 2012 and the construction of the plant in 2014. The company expects the plant to begin producing electricity by 2020.