Two nuclear power plants will get an upgrade for reactor 1 & 2 with a €90 million backing from the European Investment Bank (EIB).
Finnish energy supplier Teollisuuden Voima Oyj (TVO) will receive the funding which they will implement into a multi-year timeline.
The upgrades are required under Finnish and EU safety legislation to ensure continued safe and efficient operation.
“By supporting safety upgrades at Olkiluoto, we are helping Finland strengthen its energy mix with reliable, low-carbon power,” said EIB Vice-President Karl Nehammer. “This investment supports Finland’s energy independence and contributes to the EU’s goals of ensuring secure and clean electricity for homes and businesses.”
Olkiluoto is the construction site for the world’s first final nuclear waste disposal facility, and it also produces 28% of Finland’s electricity needs.
Picture: TVO