Story of Fennovoima

Finland's youngest nuclear power company has grown to become a work community of hundreds of professionals. We have what it takes to produce emission-free electricity for Finland. This page tells Fennovoima's story through its most significant events.

Finland's latest nuclear power company has grown to become a work community of hundreds of professionals. We have what it takes to produce emission-free solution for Finnish electricity production. This page is telling Fennovoima's story through it most significant events.
 

Year 2014

2014

The application to supplement the Decision-in-Principle is instituted in March. The supplemented Decision-in-Principle is approved in the parliament by 115 votes to 74 on the 5th of December 2014.

At the end of March, 34% of Fennovoima’s shares are transferred to RAOS Voima Oy, Rosatom’s Finnish subsidiary. In April, RAOS Voima and Voimaosakeyhtiö SF, consisting of Finnish industrial and energy companies, make the final investment decision on the construction and financing of the Hanhikivi 1 nuclear power plant.

In December, Fennovoima applies for an environmental permit for the nuclear power plant. The permit application describes the use-phase operations of the nuclear power plant and its environmental impact.

Year 2013

2013

Rosatom is invited to direct negotiations parallel to Toshiba, and negotiations with Rosatom are meant to be completed by the end of the year. It begins to look as if Rosatom’s tender will be the most lucrative one. The nuclear power plant type would change, so its environmental impact would need to be reassessed.

In September, Fennovoima and Rosatom’s subsidiary Rusatom Overseas sign a development contract of the project, aiming at an agreement on the delivery of the nuclear power plant. The contract is signed in December.

Year 2012

2012

After Fennovoima receives tenders from Toshiba and Areva, agreement negotiations start. The tenders cover the delivery and construction of reactor and turbine islands.

In October, Fennovoima’s minority shareholder E.ON starts the process of selling its operations and shareholdings in Finland, including Fennovoima shares. Hence, Fennovoima has to find a new partner for the project. After E.ON left, a few Finnish owners decide to back down from the project.

Year 2011

2011

Fennovoima sends invitations to tender on the new nuclear power plant to Areva and Toshiba in July.

In October, the Hanhikivi peninsula at Pyhäjoki is chosen as the site of the future nuclear power plant. This decision is based on many different factors, such as the stable bedrock on the Hanhikivi peninsula and other technical factors, low seismic values and low number people living near the peninsula.