EC gives Finland green light to build new nuke plant

London (Platts)--11Jun2004

The European Commission has given Finland the green light to build a new
nuclear power plant, the EC said Friday. The plant is the first to be ordered
in the European Union for more than a decade and is to have an installed
capacity of 1,600MW. Construction is to start in 2005 and operations will
begin in 2009, the EC said. The plant is to meet new electricity demand in
Finland and replace ageing fossil fuel plants. "This project shows that
nuclear energy remains an attractive economic option if it is properly
managed," said Loyola de Palacio, vice-president of the EC in charge of energy
and transport. The plant construction has been given approval under the
provisions of the Euratom Treaty, and the Finnish government said no financial
aid was being provided by the state for the project. In its plan submitted to
the EC, the Finnish authorities said that the plant would have lower
production costs than fossil-fuel plants and ensure stable and predictable
supplies.

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