\[OL3 EPR's schedule work continues ]\

Teollisuuden Voima Oyj (TVO) has received interim information of the rebaseline schedule for the commissioning of the OL3 EPR plant unit from the plant supplier Areva-Siemens Consortium. The schedule work is estimated to be completed in August 2020.

The new management of Areva, the plant supplier party, is preparing a financial solution to complete the project according to an upcoming schedule. TVO is also negotiating with the plant supplier Areva-Siemens consortium on the terms of completing the OL3 project. The rebaseline schedule work of the plant supplier Areva–Siemens consortium is still in progress and is being actively taken forward. 
 
The new management of Areva actively continues working on a plan, with support of all parties, to secure funding until the end of the OL3 project. TVO has participated in the discussion of Areva-Siemens consortiums measures and has a positive attitude towards their progress.

OL3 plant supplier consortium is constructing the plant unit under a fixed-price 
turnkey contract. The supplier consortium companies, AREVA GmbH, AREVA NP SAS and Siemens AG, have joint and several liability for the contractual obligations until the end of the guarantee period of the plant unit.  According to the Global Settlement Agreement from 2018 OL3 plant supplier consortium is committed to ensure the adequacy of the funding reserved to finalize the OL3 EPR project as well as all warranty periods. For this purpose a fund mechanism financed by Areva Companies was established to cover all the costs of finalizing OL3 EPR project. 

Teollisuuden Voima Oyj
Pasi Tuohimaa, Communication Manager, tel: +358 40 5445001
 

Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for 40 years. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth, increasing to nearly one third once Olkiluoto 3 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.