European Investment Bank to invest €40 million in Finnish small modular reactor company Steady Energy

The European Investment Bank will invest up to €40 million (about $46 million) in Finnish small modular reactor company Steady Energy. The company's LDR-50 reactor is specifically designed for district heating networks, and this is also the European Investment Bank's first investment in small modular reactor technology. The European Investment Bank is jointly owned by the 27 EU member states, and these member states do not have a consistent attitude toward nuclear energy. In the past, the bank usually avoided new nuclear power projects and invested only in projects related to nuclear safety, such as Chernobyl-related projects. However, over the past year or so, the European Investment Bank has provided loans for the refurbishment project of a reactor in Romania, as well as for the Tricastin...

2026-09-16

Unit 3 of Finland's Olkiluoto Nuclear Power Plant automatically disconnected from the grid due to a technical fault

On September 10, several hours before the start of a planned shutdown for maintenance, Unit 3 of Finland's Olkiluoto Nuclear Power Plant automatically disconnected from the grid due to a technical fault detected in the steam generator. The plant operator, Teollisuuden Voima Oyj (TVO), said that at the time of the incident, Unit 3 was gradually reducing power as planned and was already operating at extremely low power. The automatic disconnection occurred earlier than the originally scheduled grid disconnection for maintenance. TVO stated that all plant systems were operating normally and that the event had no impact on nuclear safety. The Olkiluoto Nuclear Power Plant is located on the Olkiluoto Peninsula along the coast of the Gulf of Bothnia in the Baltic Sea in Finland. The plant has three operating units, of which Unit 3...

2026-09-11

Finland's Loviisa Nuclear Power Plant Signs 22-Year Power Purchase Agreement with Google

On September 9, 2026, Google announced that it will invest at least 13 billion euros in Finland over the next two years for artificial intelligence infrastructure construction. The investment includes building and expanding data centers in Finland, along with supporting energy projects. Among them, Google signed a 22-year power purchase agreement with Finnish energy company Fortum to purchase up to 50% of the electricity generated by the Loviisa Nuclear Power Plant. Google President and Chief Investment Officer Ruth Porat stated that this arrangement is Google's first nuclear energy deal outside the United States. Google said this investment is its largest single investment in Europe, and the related infrastructure will support services including Gemini, Search, Maps, and YouTube. Lovi...

2026-09-10

IAEA Completes Review of Finland's Nuclear and Radiological Emergency Preparedness

An International Atomic Energy Agency (IAEA) expert team recently concluded a review of Finland's nuclear and radiological emergency preparedness and response framework. The Emergency Preparedness Review (EPREV) was conducted at the request of the Finnish government, hosted by the Finnish Radiation and Nuclear Safety Authority (STUK), with the mission taking place from August 24 to September 2. The review team focused on assessing Finland's arrangements and capabilities for responding to nuclear and radiological emergencies, benchmarking them against IAEA safety standards. Finland currently operates five nuclear power reactor units at two sites: the Loviisa Nuclear Power Plant and the Olkiluoto Nuclear Power Plant. The Loviisa plant is located approximately 90 kilometers northeast of Helsinki, while the Olkiluoto plant is situated approximately 270 kilometers northwest of Helsinki. The Olkiluoto site also hosts the Onkalo spent nuclear fuel geological repository, the world's first geological disposal facility for final disposal of spent fuel.

2026-09-03

Finland's Onkalo Spent Fuel Disposal Facility Starts Drilling of First Disposal Hole

On the afternoon of August 26, 2026, Finland's Onkalo spent fuel final disposal facility commenced drilling of its first disposal hole deep in the bedrock at Olkiluoto. Posiva stated that the drilling operation is being carried out at a depth of more than 400 meters underground, with the drill bit beginning to cut into the approximately 1.9-billion-year-old Olkiluoto bedrock. Kimmo Lehtola, Posiva's Operations Construction Manager, explained that a kick-off meeting had been held the day before the operation, focusing on reviewing safety matters, technical specifications, and the detailed drilling plan. On the morning and early afternoon of the drilling day, the team completed final adjustments to the equipment, after which the drilling rig began its work. He noted that the team had previously completed...

2026-08-28

Finland's Olkiluoto 3 unit reduces power output due to main coolant pump fault

Finnish utility Teollisuuden Voima (TVO) said on August 17 that Unit 3 of the Olkiluoto nuclear power plant (OL3) will continue to operate at a stable power output of approximately 1,300 MW, about 84% of full capacity, for the coming weeks due to technical faults in two main coolant pumps in the nuclear island. The unit's rated generating capacity is approximately 1,600 MW. TVO stated that the faults were discovered during this summer. Since then, the unit has reduced its output power and investigations have been conducted into the causes of the faults and corrective measures. Under the latest arrangement, OL3 will continue operating at a reduced power level to monitor the effectiveness of corrective actions until the unit begins its scheduled annual outage on September 10, 2026. TVO...

2026-08-18

Finland's Olkiluoto 3 nuclear reactor reduces output by 450 MW due to fault

Finland's largest nuclear reactor, Olkiluoto 3 (OL3), is currently operating at a reduced power level of approximately 300 MW. The unit's normal net power output is around 1,600 MW, and its generation accounts for about 14% of Finland's total electricity demand. According to Teollisuuden Voima (TVO), as reported by Tekniikka & Talous, the power reduction is due to a fault in one of the reactor-side circulation pumps. The damaged circulation pump has been repaired and is under monitoring, and the power level of Unit 3 is expected to return to normal on August 18. The circulation pump's function is to circulate cooling water through the reactor core. Meanwhile, Olkiluoto 2 has also been operating at a reduced power level of approximately 155 MW since mid-July...

2026-08-14

Finnish family-owned company Halton Group secures major order for UK's Sizewell C nuclear power project

Finnish family-owned company Halton Group has secured a significant order for the UK's Sizewell C nuclear power project, and will supply related equipment or systems for the construction of this large-scale nuclear power plant. The project has an installed capacity of 3.2 gigawatts, with the order value reaching the tens of millions of euros level. For an industrial company from Finland, this is not only a major breakthrough in a single project, but also demonstrates its competitiveness in the supply chain of high-demand energy infrastructure. Sizewell C is one of the key projects advancing the UK's new generation of nuclear power construction. Against the backdrop of Europe's energy structure adjustment and rising demand for low-carbon electricity, large-scale nuclear power plants have once again become an option for multiple countries to ensure power security and meet emission reduction targets.

2026-08-14

Finland's Onkalo Spent Nuclear Fuel Final Disposal Facility Expected to Receive Operating License by Year-End

Finland's spent nuclear fuel final disposal project has entered the critical stage of operating license review. The Radiation and Nuclear Safety Authority of Finland (STUK) issued a statement saying that the design and emergency response procedures of the Onkalo final disposal facility meet the safety requirements for granting an operating license. The Finnish government is expected to decide whether to approve the facility's operation before the end of the year. Onkalo is located on Olkiluoto Island in southwestern Finland. "Onkalo" means "cave" in Finnish. If licensed and operational, the facility will become the world's first deep geological final disposal facility for spent nuclear fuel from nuclear power plants, serving as a reference for other countries considering similar facilities...

2026-08-14

Finland's Loviisa Nuclear Power Plant Launches Turbine Island Upgrade to Support Operation Until 2050

Finnish utility Fortum has launched a large-scale modernization project for the turbine island at the Loviisa Nuclear Power Plant. The project aims to increase the plant's electrical output and ensure the continued, safe, and reliable operation of both units through the end of 2050 under the new operating licenses. The Loviisa plant consists of two VVER-440 pressurized water reactor units and is Finland's first nuclear power plant, currently supplying more than 10% of the country's electricity. Unit 1 entered commercial operation in 1977, followed by Unit 2 in 1981, and the Finnish government approved the extended operating licenses in February 2023. The core of this upgrade is the modernization of the low-pressure turbines, which is the largest single undertaking in the Loviisa turbine island upgrade...

2026-08-12

Finland's Olkiluoto Spent Nuclear Fuel Final Disposal Facility Passes Regulatory Safety Assessment

The Radiation and Nuclear Safety Authority of Finland (STUK) released a safety assessment report on August 4, concluding that Posiva's spent nuclear fuel encapsulation plant and final disposal facility at Olkiluoto, Finland, meets the safety requirements for an operating license. This conclusion brings the project, regarded as the world's first industrial-scale geological final disposal facility for spent nuclear fuel, one step closer to obtaining government approval for operation. The facility is located on Olkiluoto Island in the municipality of Eurajoki, southwestern Finland, and is designed to dispose of spent nuclear fuel generated by the Olkiluoto nuclear power plant units of Teollisuuden Voima Oyj (TVO) and the Loviisa nuclear power plant units of Fortum. Posiva submitted its operating license application in December 2021...

2026-08-05

Annual maintenance outage begins at Finland's Loviisa nuclear power plant, spanning August 2 to October 18

The annual maintenance of Finland's Loviisa nuclear power plant began on August 2. Energy company Fortum stated that this annual maintenance will be carried out from August 2 to October 18. During the maintenance period, several modernization projects related to extending the plant's service life will also be launched. The maintenance will first be carried out on Unit 2, followed by Unit 1. Fortum stated that while one unit is under maintenance, the other unit will continue normal power generation. The maintenance of Unit 2 is a large-scale annual inspection conducted once every eight years, which includes removing fuel from the reactor for inspection and pressure testing of the reactor vessel, as well as replacing...

2026-08-03

Annual outage maintenance of Loviisa Nuclear Power Plant begins on August 2

Fortum, the Finnish state-owned energy company, announced that the annual outage maintenance of the Loviisa Nuclear Power Plant will commence on August 2, starting with Unit 2 and then transitioning to Unit 1. The maintenance is scheduled to continue until October 18. During this period, the two units will be taken offline for maintenance in rotation, with the other unit remaining in operation. As planned, Unit 2 will undergo a major annual overhaul conducted every eight years. During the maintenance, staff will unload the reactor fuel, inspect and pressure test the reactor pressure vessel, replace approximately one-quarter of the fuel, and complete a series of equipment maintenance and servicing tasks. Unit 1 will undergo a shorter routine annual maintenance, primarily involving fuel replacement and related maintenance work.

2026-07-30