Finland extends its existing nuclear power plant

Finland has just taken a decision that could mark the Finnish nuclear landscape in the long term. After obtaining the agreement of the government parties, including the Greens, Minister of the Economy Mika Lintilä announced that the nuclear power plant near Loviisa - whose life was initially planned to last until 2027 and 2030 - will be extended until 2050. This measure is intended to be a significant investment to ensure a positive climate balance and reliable electricity for another 30 years.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Finland announced on Thursday the extension to 70 years, or until 2050, of the life of its oldest nuclear power plant. The plant located near Loviisa, in the south-east of the country, is equipped with two VVER-440 reactors developed during the USSR era and commissioned in 1977 and 1980. In recent years, the operator of the site, the state-owned Fortum Group, had invested more than 300 million euros to support this expansion.

 

Suspicions dispelled about Finnish intentions

When the Social Democratic government led by Sanna Marin came to power in 2019, a contract was made between the parties that make up the same government such as the Greens so that the plant can still produce until 2050. The Local Ecologist Party differs from other European parties because it remains open to the civil use of the atom, even though it has a very good climate record.

 

With Olkiluoto: a complete portrait of the Finnish nuclear landscape

In addition to Loviisa and its two earlier reactors, Finland also has a power plant at Olkiluoto in the southwest comprising three reactors: two Western (890 megawatts each) and a French EPR (1,600 megawatts). This one should be normally operational in April 2021 after some minor technical delays.

French state utility EDF has increased the maximum estimated cost for building six new nuclear reactors to €72.8 billion ($85.29 billion), representing a 40% rise over the original figure.
US-based Holtec has signed a memorandum of understanding with Hungary’s energy group MVM to assess the deployment of its SMR-300 technology, strengthening bilateral nuclear cooperation and opening prospects for a new market in Central Europe.
California-based startup Radiant has secured $300mn to build its first factory in Tennessee and prepare for the mass production of miniature nuclear reactors for off-grid applications.
Terra Innovatum has increased its interactions with the Nuclear Regulatory Commission to advance licensing of its SOLO™ micro-modular reactor, despite the partial shutdown of the US federal government.
The US nuclear regulator has extended the operating licences of three Illinois reactors by 20 years, strengthening Constellation's long-term industrial outlook for the Clinton and Dresden sites.
The SATURNE Industrial Chair aims to develop innovative uranium extraction methods, with joint funding from Orano and the National Research Agency over a four-year period.
US-based X-energy has signed a reservation agreement with South Korea's Doosan Enerbility to secure key components for its small modular nuclear reactors.
Niger expands its mining alliances with Uranium One to develop new sites, while the Dasa project continues seeking financing despite clear political backing.
Samsung Heavy Industries has received Approval in Principle for a floating nuclear plant featuring two SMART100 reactors, marking a step toward the commercialisation of offshore small modular reactors.
The Indian government proposes a unified legal framework for nuclear energy, aiming to boost private investment and increase installed capacity to 100 GW by 2047.
Samsung C&T strengthens its presence in modular nuclear energy in Europe by signing an agreement with Synthos Green Energy to develop up to 24 SMRs in Poland and several Central European countries.
Israeli firm nT-Tao and Ben-Gurion University have developed a nonlinear control system that improves energy stability in fusion plasmas, strengthening the technical foundation of their future compact reactors.
The Indian government has introduced a bill allowing private companies to build and operate nuclear power plants, ending a state monopoly in place for over five decades.
Natura Resources enters a new regulatory phase for its molten salt reactor MSR-1, following the signing of a framework agreement with the US Department of Energy under the Reactor Pilot Program.
Norwegian Nuclear Decommissioning is surveying 22 localities to assess their interest in hosting storage facilities for radioactive waste from the country’s former research reactors.
Electricité de France's Flamanville 3 reactor has reached full power for the first time, marking a key industrial milestone in the deployment of EPRs in Europe, despite cost overruns reaching EUR23.7bn ($25.7bn).
GE Vernova Hitachi’s BWRX-300 small modular reactor has passed a key regulatory hurdle in the United Kingdom, opening the door to potential commercial deployment, despite no current plans for construction.
Molten salt reactor developer Natura Resources has acquired Shepherd Power and partnered with NOV to scale up modular reactor manufacturing by the next decade.
China National Nuclear Corporation expects commercial operation in 2026 for its ACP100 reactor, following successful cold testing and completion of critical structures in 2025.
Start-up SEATOM has been selected to join NATO's DIANA programme with its micro nuclear reactor designed for extreme environments, reinforcing its position in dual-use marine and military energy technologies.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.