TVO may revisit project for Olkiluoto 4

22 July 2015

Finnish utility Teollisuuden Voima Oyj (TVO) says it is ready to revive proposals to build a fourth unit at the Olkiluoto NPP (OL-4) in western Finland, although an extraordinary general meeting agreed last month to postpone plans to apply for a construction licence for OL-4. TVO says it "will remain prepared" to restart the application process, which would be subject to a separate decision by shareholders.

In 2014, the Finnish government rejected a request byTVO to extend by five years the period of validity to submit a construction licence application for OL-4 from the end of June 2015 to the end of March 2019 because of the delayed start-up of the OL-3 European pressurised water reactor being built by Areva and Siemens. The period of validity has now expired, but TVO's interim report for the first half of this year said that a revised schedule for completion of the OL-3 project "is undergoing detailed scrutiny."

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