Despite a plan to phase out nuclear generation in Sweden its Oskarshamn 3 plant is the latest nuclear facility to announce a significant capacity boost after the government approved the plans from owners EON and Fortum.
The plant is set to increase its capacity by 250MWe, from the current 1200MWe to 1450MWe by 2008.
Fortum's share ownership of the plant through its OKG affiliate entitles it to buy 43% of electricity production from the plant at generation cost. Fortum's share of the power increase is slightly over 100 MW.
OKG will implement and fund the power increase and renovation investments through its own balance sheet while the overall cost of the project to EON is expected to be SEK 1 billion (€107 million), part of a SEK 22 billion (€2.35 billion) investment programme announced by EON Sverige this year.
The upgrade to the plant was originally agreed in January, although regulatory approval from the Swedish Nuclear Power Inspectorate is still required.
"The investment is important to Fortum, because it increases our carbon dioxide-free production capacity that we can offer to the Nordic electricity market," said senior vice president Tapio Kuula of Fortum.
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