Fortum to apply for licence to extend operation of Loviisa

7 March 2022

Loviisa nuclear power plant (Credit: Fortum)Finnish power utility Fortum said it had decided to apply for new operating licence for both units at the Loviisa nuclear power plant until the end of 2050.

“Over the course of these years, the plant is expected to generate up to 170TWh of emission-free electricity. By applying for the extension, Fortum wants to support achieving Finland’s and Europe’s carbon neutrality targets and enable the building of a reliable, competitive and sustainable energy system,” Fortum said.

Loviisa 1&2 are 520MWe Russian-designed VVER-440 pressurised water reactors. Loviisa 1 began commercial operation in 1977 and Loviisa 2 in 1981.

“I am very pleased that we have now decided to apply for new operating licence for Loviisa nuclear power plant," said Fortum’s President and CEO Markus Rauramo. "For Fortum, nuclear power is a key pillar of emissions-free electricity production, and continuing production in Loviisa is above all an investment in securing the supply of clean domestic electricity. As a reliable production form, nuclear power also enables growth of wind power-based energy."

“The economic, political and societal aspects were factored into our decision. We at Fortum are especially pleased that acceptance of domestic nuclear power is now at a historic high among citizens and political parties alike. Our company is a trusted producer of nuclear power,” he added.

The lifetime extension of the Loviisa units is a significant investment in Finland. It has substantial economic and employment impacts. Over the past five years, Fortum said it has invested some €325 million ($355m) in the Loviisa nuclear power plant. Investments related to continuing of operations and lifetime extension will amount to an estimated one €1 billion by 2050.

“Loviisa power plant has been generating electricity with nuclear power reliably over forty years, and its annual output accounts for about ten per cent of Finland’s total electricity consumption. Thanks to persistent and responsible development of operations and modernisations, the power plant is in good condition and we can safely continue its operations. We are very pleased that we can proceed with the preparation of the operating licence application,” said Simon-Erik Ollus, executive vice president of Fortum’s Generation Division.

When submitting the operating licence application, Fortum will also apply for a licence to use the low- and intermediate-level radioactive waste final disposal facility located in Loviisa’s current power plant area until 2090, after which the facility will be permanently sealed.

The final disposal of used nuclear fuel is scheduled to start in Finland in the mid 2020s. In December, Posiva submitted an operating licence application for a used fuel encapsulation plant and final disposal facility currently under construction at Olkiluoto. The operating licence application runs from March 2024 to the end of 2070.

Fortum will submit its operating licence application to the Ministry of Economic Affairs and Employment by the end of March and from there it will be sent to the Finnish Government for review. The Finnish Government will request statements from a range of various parties, including the Finnish Radiation and Nuclear Safety Authority (STUK), and will make its decision based on expert statements. The licensing process is estimated to take about 12 months.

Loviisa nuclear power plant (Credit: Fortum)

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.