Fennovoima continues with Rosatom
Fennovoima and Rusatom Overseas, a subsidiary of Rosatom, have signed a Project Development Agreement aiming at a nuclear power plant supply contract.
The contract for supplying Fennovoima's Hanhikivi 1 nuclear power plant unit is to be signed by the end of 2013. In addition, negotiations on Rusatom Overseas acquiring 34 % share in the capital of Fennovoima are being carried out.
The Russian 1200 MW reactor is in accordance with the needs of Fennovoima's owners. In addition, Rusatom Overseas’ execution model and the offer as a whole are suitable for Fennovoima's project.
Rusatom Overseas’ pressurized water reactor AES-2006 plant is the latest evolution in a long line of VVER plant designs. The plant corresponds with IAEA and EUR requirements, according to the company.
Direct negotiations with Rusatom Overseas begun in April 2013. Since February 2013, negotiations have been ongoing with Toshiba as well but from now on Fennovoima concentrates on negotiating only with Rusatom Overseas.
Fennovoima is owned by 60 companies representing industry, trade, and energy sectors from all around Finland. Before the plant supply contract is signed, all of Fennovoima's owners decide on their continuation in the project.