Finnish company Teollisuuden Voima launched the “Olkiluoto 3” nuclear reactor in order to strengthen energy security in the region after Russia stopped supplying gas and electricity.
This was reported by Reuters.
According to representatives of the reactor operator, the plant will satisfy about 14% of the demand for electricity in Finland, reducing the need for imports from Sweden and Norway.
It is also expected that the new reactor will operate for at least 60 years. The construction of a 1.6 GW reactor, the first new nuclear power plant in Finland in over four decades and the first in Europe in 16 years, began in 2005.
At first, the station was planned to be opened in four years, but technical problems arose. The CEO of TVO, Jarmo Tanhua, stated that the electricity production at Olkiluoto 3 will stabilize electricity prices and play an important role in Finland’s green transition.
Reminder:
The Ministry of Economy and Employment of Finland is considering the possibility of extending the operating period of Fortum’s Loviisa nuclear power plant by 20 years.