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Finland's Fortum to participate in Russian-Finnish Hanhikivi NPP project

August 05, 2015, 10:39 UTC+3
The stake will total 6.6% stake
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© ITAR-TASS/Yevgeniy Kurskov

MOSCOW, August 5. /TASS/. Finnish energy company Fortum decided to take part in the Russian-Finnish Hanhikivi nuclear power plant project with a 6.6% stake on conditions similar to other Finnish companies, the company said on Wednesday. Participation will be implemented through Voimaosakeyhtio SF, Fortum said.

Russia’s Rusatom Overseas and Finnish Fennovoima signed the contract for construction of Hanhikivi-1 nuclear power plant at the end of December 2013.

"Fennovoima is an important project for the Finnish society. At the same time, nuclear power is one of the key areas in Fortum’s strategy and our core competence together with hydro power and combined heat and power production", Fortum’s Interim CEO and CFO Timo Karttinen said.

"With our participation, Fennovoima project will be able to utilize Fortum’s wide expertise of the nuclear sector and our technical know-how. At the same time Fortum will be able to continue its good long term cooperation with Rosatom and develop further its own expertise along with the project," the Finnish company said.

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