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Fennovoima Oy

Fennovoima proceeds to political decision-making

Media release.
Published: 16-Sep-2014 10:48 am
Publisher: Fennovoima Oy

Fennovoima has today submitted to the Ministry of Employment and the Economy a clarification concerning the current ownership situation of the main Finnish owner Voimaosakeyhtiö SF.

Voimaosakeyhtiö SF owns 66 % of Fennovoima. Reserved at the moment is 54, 72 %. The increase of about 1 % compared to the figure presented yesterday is due to Vantaa Energia’s decision that was made this morning to increase its share by a little less than 1 %.

Voimaosakeyhtiö SF’s negotiations with new potential owners continue. The target is to keep the ownership in Fennovoima in the current 66 %. Fennovoima’s other main owner with a 34 % minority share is Rosatom’s Finnish subsidiary RAOS Voima.

The Ministry of Employment and the Economy has announced yesterday that it proposes for the Government to approve the supplement for Fennovoima’s Decision-in-Principle on September 18th, with the condition that the Finnish ownership must be at least 60 % at the time of the submittal of the construction licence application. Fennovoima applies for the construction licence by summer 2015.

Fennovoima project proceeds towards the construction phase in accordance with the schedule. Today, the start of the very first construction work is celebrated at the plant site on Hanhikivi headland in Pyhäjoki as the construction of the new access road to the plant site is launched by Suomen Maastorakentajat Oy.

Fennovoima’s nuclear power plant Hanhikivi 1 starts generating electricity in 2024.


Press release of the Ministry of Employment and the Economy (September 16th):


Companies and communities who have made a decision to Voimaosakeyhtiö SF to participate in Fennovoima's project (as of September 16th 2014):



For more information:

Elina Engman, CEO of Voimaosakeyhtiö SF tel. +358 20 757 8452 (from 12.30 o'clock onwards)
Maira Kettunen, Communications Director of Fennovoima tel. +358 757 9213 (also requests for interviews with Elina Engman)

Fennovoima is constructing new nuclear power in order to produce reasonably priced electricity for the Finnish trade and industries and for Finnish households, help Finland to move toward energy self-sufficiency and increase competition in electricity markets.

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