Annual report 2014: project advanced from the preparation phase to the execution phase

During 2014, the Fennovoima project advanced from the preparation phase to the execution phase. In March Fennovoima submitted to the Government an application for a supplement to the decision-in- principle granted in 2010.

In September the Government issued a favorable decision-in-principle based on the company’s application, but requires at least 60% Finnish (EU/ETA area) ownership at the time of the construction license application.

In December the Parliament ratified the resolution of the Government. Rosatom’s Finnish subsidiary RAOS Voima Oy became a minority shareholder in Fennovoima in April with a 34 percent stake. In April Fennovoima’s owners, Voimaosakeyhtiö SF and RAOS Voima Oy, made a binding decision to construct and finance the nuclear power plant in Pyhäjoki.

In May, the Radiation and Nuclear Safety Authority (STUK) issued a preliminary safety assessment regarding the Fennovoima Hanhikivi 1 project. The Radiation and Nuclear Safety Authority estimated that the AES-2006 plant can be constructed to fulfill the Finnish safety requirements at the location specified by Fennovoima: Hanhikivi at Pyhäjoki.

In May, Fennovoima Oy, JSC Rusatom Overseas (the plant supplier) and labour market organizations signed a site agreement regarding common rules at the future Pyhäjoki nuclear power plant construction site. The agreement is based on the work of a working group that was established in 2012 to focus on the site’s policies of cooperation and methods to prevent a grey economy.

The project transitioned to the construction phase at the Hanhikivi headland in Pyhäjoki when construction of a new access road was started in September. In 2014 a wide array of soil surveys of the Hanhikivi headland were carried out, both in the plant area as well as in the area for support functions. In August a decision-in-principle was signed with Fingrid regarding the connection of the nuclear power plant to the grid governed by Fingrid.