Finland’s first new nuclear reactor in 40 years started supplying electricity† It is also the first new European reactor in 15 years. The other two reactors at the Olkiluoto nuclear power plant, in Eurajoki in southwestern Finland, date from the 1970s and 1980s.
The reactor was already started up in December, now Olkiluoto 3 is also connected to the national power network. Production will be gradually ramped up until the maximum capacity of 1600 megawatts is reached in July. At that time, the reactor can provide 14 percent of Finland’s electricity needs.
Nuclear power stations are the main method of electricity production in Finland. Furthermore, 25 to 30 percent of the electricity comes from abroad, mainly from Sweden, but also for a large part from Russia.
By opening Olkiluoto 3, Finland will become less dependent on foreign countries. According to the Finnish nuclear consortium TVO, the owner of the plant, Finland’s energy imports could be cut by half by 2025.
Setbacks and cost overruns
The realization of the new nuclear power station was quite difficult. The project was approved in 2002. Construction started in 2005 and the nuclear power plant should have been opened in 2009. However, numerous technical problems arose during construction, which meant that completion had to be postponed time and again.
TVO and supplier Areva filed lawsuits against each other over the cost overruns. The French Areva would build the plant together with the German Siemens for 3 billion euros. Ultimately, the costs were estimated to amount to 11 billion euros. In 2018, TVO and Areva reached a settlement.
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