TVO is very pleased with Parliament's nuclear decision
Teollisuuden Voima was very pleased to learn about the Parliament's ratification of the favourable decision-in-principles the Finnish Government made concerning the Company's application to construct its fourth nuclear power plant unit Olkiluoto 4 and Posiva´s application to extend its final disposal for the spent nuclear fuel of the unit. - The decision is important for us and well welcomed by our personnel. It is also an extremely significant decision for all our shareholders and the entire Finnish society, says Mr. Jarmo Tanhua, President and CEO of TVO.
- This was a very pleasing and welcome decision for us after the application process of more than three years. We can now continue preparations for the project. The electricity produced at our new nuclear power plant unit will benefit not only the Finnish industry but also households and the service sector, says the President and CEO of TVO, Mr. Jarmo Tanhua.
- The decision made today is an important milestone towards the EU vision of CO2 neutral energy production. Placing greater emphasis on nuclear power and renewable energy sources will help us achieve significant cuts in emissions in electricity production, Mr. Tanhua states.
TVO continues preparations for the project and feasibility studies of the plant alternatives now that the favourable decision-in-principle is ratified. The new plant unit will be built in Olkiluoto in the municipality of Eurajoki in Finland.
- Now that the decision-in-principle is granted, we will continue elaborating the feasibility studies with the possible plant suppliers and various other organizations as well as proceed with other preparatory arrangements required by the large-scale project, explains Mr. Olli-Pekka Luhta, Olkiluoto 4 Project Manager. - We have an excellent plant site for the fourth unit and we can now leverage our long experience in operating nuclear power plant and unique expertise in constructing third generation unit.
For more information, please contact:
Jarmo Tanhua, President and CEO, tel. +358 2 8381 2000
Olli-Pekka Luhta, OL4 Project Manager, tel. +358 2 8381 5150
Anneli Nikula, Corporate Adviser, tel. +358 9 6180 2505
Teollisuuden Voima Oyj is a Finnish nuclear power company founded in 1969 for safe and reliable production of electric energy to the Finnish society at a reasonable price. The nuclear power generated at TVO's Olkiluoto plants accounted in 2009 for ca. one sixth of the total energy consumption in Finland. Clean energy production not only benefits the Finnish society but also contributes to the global reduction of environmental impact.