TVO received bids for OL4 nuclear power plant unit today

Teollisuuden Voima Oyj (TVO) has today received bids related to the new Olkiluoto 4 nuclear power plant unit to be constructed in Olkiluoto in Finland.

- A remarkable milestone has been achieved in the Olkiluoto 4 project when we received bids from all the plant supplier candidates involved in the bidding process. I´m contended with the dedication with which the suppliers have carried out various technical studies to ensure the plants they offer fulfil our strict requirements related to safety, constructability and reliable operation, says TVO´s CEO Jarmo Tanhua.

The bids TVO has received concern different plant technologies and delivery models. The project now moves on to the bid evaluation and negotiations phase, which will involve a personnel of some 150, and will result in the selection of the plant supplier based on a comprehensive technical and economic review.

- The evaluation of the bids is a huge task in which we verify that the technical requirements of the bids are fulfilled, compare the investment costs between the different delivery models and assess the competitive standing of the alternatives, tells Janne Mokka, TVO's Senior Vice President responsible for the OL4 Project.

TVO invited bids for a nuclear power plant unit with an electric output of appr. 1450 - 1750 MW. The construction licence application will be submitted to the Finnish Government by mid-2015. The construction of the power plant unit can start after the investment decision has been made and the construction licence granted.

The supplier candidates for the OL4 reactor island include AREVA with an EPR plant type, GE Hitachi with an ESBWR plant type, Korea Hydro & Nuclear Power with an APR1400 plant type, Mitsubishi Heavy Industries with an APWR plant type and Toshiba with an ABWR plant type.

For more information, please contact:
Janne Mokka, Senior Vice President, OL4 Project, telephone: +358 2 8381 8000.

TVO produces nuclear electricity for its shareholders at cost price in Olkiluoto in the municipality of Eurajoki. TVO is through six direct shareholders owned by ten industrial companies and 45 energy companies, and further through them also by almost 140 municipalities. The Finnish Parliament ratified in July 2010 the Government's favourable Decision-in-Principle on the fourth plant unit of the company. The unit will produce ca. 12 - 14 TWh of electricity per year.

About Us

Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for nearly 40 years. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth, increasing to nearly one third once Olkiluoto 3 EPR is completed, of the electricity consumption in Finland. Climate-friendly nuclear electricity not only benefits society but also reduces the environmental impact of energy production. Moreover, the world's first final disposal facility for spent nuclear fuel is under construction in Olkiluoto.