Finland And Russia Sign Strategic Partnership And Fuel Delivery Agreements

Posted by NucNet on 28 February 2014 in NucNet

Finland and Russia have signed an agreement to form a strategic partnership that lays down the legal basis for cooperation in nuclear energy, Russian state-owned nuclear corporation Rosatom has said.

Rosatom said the agreement covers nuclear technology and is important in connection with Rosatom’s agreement with Finnish utility Fennovoima for the construction of the Hanhikivi nuclear station in Finland.

The announcement came as Russian nuclear fuel company TVEL said it will supply the Loviisa nuclear station in Finland with fuel in 2014, in a deal worth 35 million euros (48 million US dollars).

In 2006, TVEL signed a contract to supply fuel for both Loviisa units until the end of their operational lifetimes in 2028 and 2030.

In February 2013, TVEL signed an agreement to deliver nuclear fuel to Fennovoima’s Hanhikivi-1 for the first 10 years of its operation.

Hanhikivi-1 is expected to become commercially operational in 2024, Fennovoima has said.