Fennovoima and Russia's Rusatom Overseas have agreed on a proposal that aims for first electricity production from Finland's Hanhikivi 1 nuclear power plant in 2024.
The two companies also reaffirmed their commitment to making an investment decision on the project and signing a power plant supply contract this year.
Fennovoima's 60 Finnish owners will have until the end of October to decide if they are continuing in the project, the companies said in a statement. The target is to sign a contract for supplying Hanhikivi 1 as well as to agree a detailed project schedule, financing arrangements, and Rosatom's 34 per cent ownership.
The technology proposed for the Hanhikivi plant in Pyhäjoki, northern Finland is the AES-2006 pressurized water reactor, which under construction at Leningrad II, Novovoronezh II and Kaliningrad. The design corresponds with IAEA and EUR requirements, and it will be adapted to be in accordance with Finnish national safety standards, Fennovoima said.
Photo: The AES-2006 at Hanhiviki