Finn Fennovoima buys land for planned nuclear plant

HELSINKI, March 11 Tue Mar 11, 2008 9:48am EDT

HELSINKI, March 11 (Reuters) - Energy firm Fennovoima said on Tuesday it has agreed to buy over 200 hectares of land in Simo, northern Finland, for a potential nuclear plant site, securing its second plot in Finland.

The company, a joint venture formed by Finnish steel firm Outokumpu OU1V.HE, German utility E.ON EONG.DE and other smaller companies, aims to build a 1,500 to 2,500 megawatt nuclear plant in Finland and hopes the power station would be ready in 2018.

Fennovoima has previously bought 600 hectares of land in Ruotsinpyhtaa, on the southern coast of Finland.

The company has environmental impact assessment studies ongoing for a nuclear plant in four Finnish towns, including Kristiinankaupunki and Pyhajoki on the west coast.

Fennovoima plans to finish the studies by February 2009, after which it will submit to the Finnish government an application to build the plant.

In addition to Fennovoima, utilities Fortum (FUM1V.HE) and Teollisuuden Voima (TVO) have announced plans to build new reactors in the next decade.

TVO is building Finland's fifth nuclear reactor in Olkiluoto, western coast, due to be ready in mid-2011. (Reporting by Sami Torma)

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