Finland's Fennovoima and Rusatom Overseas have signed a Project Development Agreement aiming at a nuclear power plant supply contract for Hanhikivi 1 to be signed by the end of 2013.

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Finland’s Fennovoima and Rusatom Overseas have signed a Project Development Agreement aiming at a nuclear power plant supply contract for Hanhikivi 1 to be signed by the end of 2013.

The companies have set "common targets," according to which negotiations will be carried out. They are also in talks over the possibility of Rusatom Overseas acquiring a 34% stake in Fennovoima.

The Russian 1200 MW AES-2006 pressurized water reactor (VVER) is being considered for the Hanhikivi 1 project, in northern Finland. The plant corresponds with IAEA and EUR requirements, according to Rusatom Overseas. However, for licensing purposes it "will be adapted to be in accordance with Finnish national safety standards."

Direct negotiations with Rusatom Overseas begun in April 2013. Talks also started with Toshiba in February 2013, but will now only continue with the Russian firm.

Fennovoima, which is owned by 60 companies representing industry, trade, and energy sectors from all around Finland, said that before a plant supply contract is signed, all of Fennovoima’s owners must decide on their continuation in the project.


Photo: The AES-2006 model proposed for the Hanhikivi site (source: Fennovoima)