Partners involved in a planned Russian-built nuclear power plant in Pyhäjoki, Northern Ostrobothnia, tell Yle they are increasingly doubtful about the project.
Russia’s military pressure on Ukraine and uncertainty over the construction permit for the nuclear power plant have already caused some stakeholders to calculate how much they would lose if the plant does not materialise.
The plant, to be provided by a subsidiary of Russian state firm Rosatom as a turnkey delivery, would be Finland’s first entirely new nuclear power plant since the 1970s.
According to the original plan, it was to have begun operations in 2020. Now the company aims to begin commercial operations in 2029.
Finnish companies, most of which are municipal energy utilities, have invested some 470 million euros in the Fennovoima venture, according to the Voimaosakeyhtiö SF consortium.
Voimaosakeyhtiö SF owns 66 percent of shares while RAOS Voima owns the rest. RAOS Voima is a Finnish subsidiary of Rusatom Energy International, which in turn is part of the Russian state-owned firm Rosatom.
Voimaosakeyhtiö’s biggest stakeholder is steelmaker Outokumpu, with a 21.9 percent share. It operates one of Europe’s largest stainless-steel mills in Tornio, some 200 km north of Pyhäjoki.
The second-largest is Suomen Voima, a consortium of 17 southern Finnish municipal energy utilities, who together own 13.1 percent. The other stakeholders all hold less than 10 percent each.
Jouni Haikarainen, CEO of Lahti Energia, which has invested 15 million so far, said that the company may lose all the money it has invested if the project is not completed
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Partners involved in a planned Russian-built nuclear power plant in Pyhäjoki, Northern Ostrobothnia, tell Yle they are increasingly doubtful about the project.
Russia’s military pressure on Ukraine and uncertainty over the construction permit for the nuclear power plant have already caused some stakeholders to calculate how much they would lose if the plant does not materialise.
The plant, to be provided by a subsidiary of Russian state firm Rosatom as a turnkey delivery, would be Finland’s first entirely new nuclear power plant since the 1970s.
According to the original plan, it was to have begun operations in 2020. Now the company aims to begin commercial operations in 2029.
Finnish companies, most of which are municipal energy utilities, have invested some 470 million euros in the Fennovoima venture, according to the Voimaosakeyhtiö SF consortium.
Voimaosakeyhtiö SF owns 66 percent of shares while RAOS Voima owns the rest. RAOS Voima is a Finnish subsidiary of Rusatom Energy International, which in turn is part of the Russian state-owned firm Rosatom.
Voimaosakeyhtiö’s biggest stakeholder is steelmaker Outokumpu, with a 21.9 percent share. It operates one of Europe’s largest stainless-steel mills in Tornio, some 200 km north of Pyhäjoki.
The second-largest is Suomen Voima, a consortium of 17 southern Finnish municipal energy utilities, who together own 13.1 percent. The other stakeholders all hold less than 10 percent each.
Jouni Haikarainen, CEO of Lahti Energia, which has invested 15 million so far, said that the company may lose all the money it has invested if the project is not completed