• Most Popular
  • Most Shared

New Finnish nuclear reactor start-up delayed

HELSINKI
Fri Dec 28, 2007 10:23am EST

HELSINKI (Reuters) - The start-up of Finland's fifth nuclear power reactor, seen as a test case for Europe's nuclear future, has been pushed back and its operator said on Friday it now sees a commercial start in mid-2011.

Green Business

Start-up had originally been scheduled for 2009.

French nuclear group Areva and Germany's Siemens are building the 1,600 megawatt Olkiluoto 3 reactor on Finland's west coast, the first new nuclear reactor to be constructed in Western Europe for more than a decade.

"Areva-Siemens consortium has announced to TVO that the unit would be ready in summer 2011," plant owner Teollisuuden Voima (TVO) said in a statement. "The delay in the project causes extra work and costs."

The 3 billion euro ($4.4 billion) project's start has been postponed before. TVO said in August that delays in construction had likely pushed the date into 2011 from 2009.

The progress of the plant is being closely watched by older EU member states wary of piling back into nuclear projects.

Finland, which is already importing power from neighbors such as Russia, is facing power shortages in coming years with electricity consumption forecast to grow a few percent each year.

Teollisuuden Voima is owned by Finnish utility Fortum and Pohjolan Voima, a consortium of Finnish forestry and energy firms.

(Reporting by Tarmo Virki; editing by James Jukwey)



More from Reuters

Photo

Democrats reach deal on health bill

WASHINGTON (Reuters) - Senate Democratic healthcare negotiators said they agreed on Tuesday to replace a government-run insurance option with a scaled-back non-profit plan and would seek cost estimates on the deal.

A pedestrian walks in lower Manhattan in New York, April 16, 2007.  REUTERS/Eric Thayer
Analysis:

The boomer meltdown

The number of U.S. workers in their prime savings years peaks in 2010, affecting a key ratio that has impacted equities for 40 years. If history repeats itself, stocks are set for a funk.  Full Article 

  Traders work on the main floor of the BM&F Bovespa stock exchange market in Sao Paulo October 10, 2008.REUTERS/Paulo Whitaker

Betting on emerging markets

There's still an upside in large-cap U.S. stocks, but BlackRock's Bob Doll says emerging markets have two things the developed world does not.  Full Article