Fortum participates in bidding, engineering phase of nuclear unit in Finland

Author: Spencer Ogden
Date posted03/Nov/2011
Author: Spencer Ogden

Fortum will participate in the financing of the bidding and engineering phase of Teollisuuden Voima Oyj's (TVO) fourth nuclear unit at Olkiluoto, Finland.


Fortum intends to hold a stake corresponding its share in TVO, and the owners of TVO will make the final decision of commencing the phase.

The company owns nearly 26% of the shares of TVO.

According to the decision-in-principle, ratified by the Finnish Parliament in July 2010, the application for a building permit for the Olkiluoto's fourth unit must be filed latest in June 2015.

Fortum is a provider of sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security.