Fennovoima updates the Construction License Application

In the summer of 2015, Fennovoima submitted to the Government an application on the construction of a new nuclear power plant on the Hanhikivi peninsula in Pyhäjoki. Since then, there have been developments in the plant project and the boundary conditions that affect it, which update the information in the original license application. Fennovoima has prepared an update on the changes that are essential to the processing of the application and submitted it to the Ministry of Economic Affairs and Employment today, 28 April 2021.

The update does not change the scope of the Hanhikivi 1 project.

“The rationale for the project is unchanged, and the scope of it will not be affected by the update. The power plant project will be implemented on the Hanhikivi peninsula in Pyhäjoki, as described in the original application,” Joachim Specht, CEO of Fennovoima, states.

The schedule of the construction license will be specified

Development and specifications in the different areas of the project since 2015 are presented in the update according to the grouping of the original application. The described changes are related to, for example, design solutions, supply chain, environmental issues and site security and preparedness arrangements. These do not change the key operating principles of the power plant.

During the last two years, the design and licensing work for the Hanhikivi 1 project has progressed well. However, bringing the design and licensing material to the level of Finnish requirements, including the regulatory review times, has taken slightly longer than expected. In the update, Fennovoima estimates that it could obtain the construction license by summer 2022 and that construction of the power plant would begin in the summer 2023. Commercial operation of the plant would thus begin in 2029.

Fennovoima also specifies the total investment costs of the project. Instead of the previously announced € 6.5–7 billion, the estimated total cost is currently € 7–7.5 billion. As the plant supply contract with RAOS Project Oy is a fixed-priced contract, the excess additional costs are due to expenses from Fennovoima’s own operations, and in particular, expenses from the Fennovoima organization.

Towards the construction of the power plant

In addition to the technical design, the Hanhikivi 1 project is increasingly preparing for the approaching construction phase. Construction readiness requires progress and measures in many different areas in order for power plant construction to begin and proceed smoothly.

“At this stage, it is essential for both us and the plant supplier to prepare for the future phases of the project, both for the construction and the commissioning of the power plant. Based on the design material, we know that we will have a good nuclear power plant that can be built on the Hanhikivi peninsula, meeting the strict Finnish requirements,” Specht says.

The Ministry of Economic Affairs and Employment will attach the update as part of the original permit application. The Ministry prepares the construction license in accordance with the Nuclear Energy Act for decision by the Government, provided that the future safety assessment of the Radiation and Nuclear Safety Authority is positive, and all other conditions required by law are met.

You can download the update as a pdf file in English here.

Fennovoima will organize a webinar for media representatives on Wednesday, May 5, 2021, at 14:00-15:00. The webinar will be implemented through the Teams tool.

At the event, Joachim Specht, CEO, Janne Liuko, Utility Operations Director, and Jouni Takakarhu, Project Director, will talk more about how the Hanhikivi 1 project is progressing towards the construction phase.

Registrations (name, media, email address) to heli.nikula@fennovoima.fi until 3.5.2021.