Ukraine’s situation threatens Finland’s sixth nuclear project.
Wednesday, January 19, 2022

Ukraine’s situation threatens Finland’s sixth nuclear project.

The escalating crisis in Eastern Ukraine has created some obstacles for Finland’s plans to build its sixth nuclear power plant, which has already been progressing slowly, reported EUROACTIV. The reactor’s pressure vessel will be manufactured in Ukraine in a factory near the Donbas, about 50 km away from the frontline. The Finnish Radiation and Nuclear Safety Authority (STUK) is supposed to monitor and inspect the process, yet access to the site may prove increasingly difficult considering the current situation. In addition, the ownership structure of Fenovoima may make things more complicated for the €7B project. The company is 66% owned by the Finnish company Voimaosakeyhtiö SF, while the rest is owned by RAOS Voima Oy, the Finnish subsidiary of Russian Rosatom. If Russia attacks Ukraine, Rosatom would likely be sanctioned.

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