Helsinki / Berlin (EA.com) / Madrid (EuroEFE). The Finnish energy giant Fortum reorients its strategy, with a return to its “Nordic roots”, after the fiasco for the exit of its capital from the German Uniper.
Mimicking what is happening in other European countries besides conventional reactors, Fortum (which has a 51% state share) will “explore the prerequisites” for building small modular reactors (SMRs), a technology in which Washington is a leader.
In a two-year feasibility study announced on Monday, the company said it will analyze the commercial, technological and social, political, legal and regulatory conditions for the reintroduction of nuclear energy in Finland and Sweden.
Fortum has just emerged from a painful business separation process with the giant Uniper, which Berlin nationalized last month, a move seen in Helsinki as inevitable, and was greeted with some relief despite heavy losses.
Now, Fortum says that to achieve competitive construction times and address costs, future nuclear projects will rely on partnerships between nuclear power generation and district heating companies, industrial heat and power supply companies, nuclear companies and New Creation.
Fortum is launching a feasibility study to explore the prerequisites for the new #nuclear. As part of the study, Fortum will examine the commercial, technological and social conditions, including the political, legal and regulatory conditions for both. #SMR‘s and large reactors.https://t.co/IHrFSIF0qn
– Fortum Nuclear (@FortumNuclear) October 17, 2022
In addition to conventional reactors, special attention will be paid to small modular reactors (SMRs), which, according to Laurent Leveugle, who leads the work at Fortum, “show promise in bringing nuclear power to future generations”.
The most important SMR solutions that are already under development are those of Rolls-Royce, GE-Hitachi and Nuscale. In Finland, LUT University and the Technical Research Center have plans for a 20-50 megawatt plant.
REGULATORY ISSUES
However, the current legislation is outdated, with a tedious licensing process.
Finnish Economy Minister Mika Lintilä assured on the Fortum issue that Helsinki is preparing a revision of the regulations, which includes smaller reactors.
Currently around 19% of Finnish energy needs are covered by nuclear sources and 39% in Sweden.
SMALL REACTORS IN THE EU AND US
In Sweden, where nuclear power has traditionally not had many supporters, the construction of new reactors is likely to be supported by the new far-right government. Fortum of Finland owns part of the Oskarshamn and Forsmark nuclear power plants.
Meanwhile, Finland is not alone in its strategy to increase nuclear energy. Estonia, which currently has no reactors, is moving ahead rapidly with plans to build SMR. After the Russian invasion of Ukraine, the Czech Republic and Slovakia also expressed interest.
Many of these investments are supported by Washington, as the United States is a world leader in SMR technology.
On the other hand, greater cooperation on nuclear matters is being negotiated with the United States, Lintilä revealed to Ilta-Sanomat.
Poland and Romania are currently collaborating with US companies in their efforts to implement the MRS.
However, France, the great nuclear power of Europe, is trying to catch up. French President Emmanuel Macron announced an investment of 1,000 million euros in research and development in October 2021.
Macron also assured that it is the “number one priority of the French industry”.
Edited by F. Heller
