Fortum Loviisa nuclear power plant produced 7.9 terawatt hours of electricity in 2024
FORTUM CORPORATION PRESS RELEASE 3 January 2025
In 2024, the Loviisa nuclear power plant produced a total of 7.9 terawatt hours of electricity. The plant's electricity production accounts for about 10% of the electricity consumed in Finland, which is nearly equivalent to the electricity consumption of the entire Helsinki metropolitan area.
The load factor of the Loviisa power plant was 88.3 in 2024. The load factor of Loviisa 1 was 86.6% and of Loviisa 2 was 90.0%. In addition to the extended duration of planned annual outages, production was also reduced by an unscheduled four-day production shutdown of Loviisa 2 in November. Unit 1 underwent an extensive four-year outage last summer, while Unit 2 had a short annual outage.
"Overall, the year's targets were reasonably well achieved, and we managed to carry out the planned maintenance and modifications during the annual outages. One of our most significant achievements was the introduction of new Westinghouse nuclear fuel to the plant," says Sasu Valkamo, Senior Vice President of the Loviisa power plant.
Fuel supply diversification has been an important project at the Loviisa power plant. During the annual outage, the second reactor was loaded with the first batch of nuclear fuel supplied by the American Westinghouse Electric Company. The new fuel ensures a reliable western alternative for the Loviisa power plant's fuel supply.
"Also, our long-term and systematic work to reduce radiation levels for radiation workers has yielded significant success. Once again, during last year's annual outages, we achieved record low radiation doses," Valkamo says.
The Loviisa power plant is preparing for its lifetime extension
In February 2023, the Finnish government granted the Loviisa power plant a new operating license until 2050. The plant is expected to produce up to 177 terawatt hours of CO2-free electricity during the new license period.
The power plant is undergoing an investment program related to its lifetime extension, ensuring reliable electricity production until the end of the plant's operational life. The related investments are estimated to reach approximately one billion euros by 2050.
"At Loviisa, we have busy years ahead as we develop the plant project by project and continue to produce clean energy reliably. Our goal is for the plant to operate as stably, reliably, and safely during the new license period as it has so far," says Sasu Valkamo.
Fortum is one of the largest employers in the Loviisa region
The Loviisa nuclear power plant is a significant employer in its region. In addition to the approximately 570 Fortum employees, the plant employs nearly a hundred employees from other companies who work at the plant site daily. About 750 contractor employees participated in the annual outages alongside the plant's regular staff. Additionally, the plant employed around a hundred summer trainees and other temporary workers during the annual outages. Fortum's investments in the Loviisa power plant amounted to approximately 50 million euros (2023: approximately 20 million euros).
Fortum Corporation
Communications
Further information:
Fortum News Desk, newsdesk@fortum.com, +358 40 198 2843
Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com
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