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Some small owners eye exit from Fennovoima nuclear group-report
November 22, 2012 / 1:00 PM / 5 years ago

Some small owners eye exit from Fennovoima nuclear group-report

HELSINKI, Nov 22 (Reuters) - Some small shareholders in Finnish nuclear consortium Fennovoima are considering pulling out, public broadcaster YLE reported, adding to concerns over the group’s future after a top investor said it plans to sell its stake.

Fennovoima, which plans to build a new reactor in Pyhajoki, western Finland, is looking for a new investor after German utility E.ON announced last month it plans to sell its 34 percent stake.

At least six Finnish municipalities, which hold small stakes in Fennovoima through local utility firms, said they had doubts about continuing with the project, YLE reported.

Those municipalities account for a small share of total ownership in Fennovoima, including E.ON’s existing stake. But it could signal increasing scepticism among smaller investors that had signed on in hopes of access to cheap electricity.

Steel maker Outokumpu, the biggest industrial owner in the project with a 10 percent stake, said last month it was still committed to the project. (Reporting By Jussi Rosendahl; editing by James Jukwey)

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