Rosatom to Be Key Contractor in Finnish NPP Project – Putin Aide

MOSCOW, September 24 (RIA Novosti) – Russian state nuclear power corporation Rosatom plans to become the main contractor in a project to build a nuclear power plant in Finland, Russian presidential aide Yury Ushakov told journalists.

Rosatom and Finnish power consortium Fennovoima, which holds a government permit for the construction of a nuclear power plant in Pyhäjoki, northwest Finland, are to sign a contract for the NPP construction by the end of 2013.

The companies are also to agree a detailed project schedule, financing mechanisms and a share for Rosatom of 34 percent.

According to Fennovoima’s draft project, the Hanhikivi-1 plant is to start producing electricity in 2024.

Fennovoima had previously named the French company Areva and Japan's Toshiba as possible contractors for the plant. However, Fennovoima reportedly approached the Russian nuclear power corporation in February about the possibility of building its Pyhäjoki plant.

Finland currently operates four nuclear reactors in two power plants, all located on the shores of the Baltic Sea.

One of the plants, in Loviisa, has two VVER-440 pressurized water reactors built by Soviet-era Atomenergoexport, but fitted with Western instrumentation, containment structures and control systems. The units became operational in 1977 and 1980, respectively.

While other European countries are trying to phase out nuclear power in the wake of Japan's Fukushima nuclear disaster in 2011, Finland seems to be determined to build more NPPs in a bid to reduce carbon emissions and curb its dependence on electricity imports.

The Pyhäjoki construction project cost is estimated at 4-6 billion euros ($5.4-$8 billion), according to the Finnish consortium.

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