Finland’s Olkiluoto-3 nuclear reactor was connected to the mains for the first time on Saturday with a long delay, the plant’s manager said, 12 years after its scheduled launch.
Located on the west coast of Finland, Olkiluoto-3 is the country’s first new nuclear power plant in four decades and the first in Europe in almost 15 years.
Why was Olkiluoto-3 delayed?
The 1.6 gigawatt (GW) reactor, built by the Areva-Siemens consortium in France, was originally scheduled to open in 2009.
Using the third-generation European Pressure Reactor (EPR) model, designed to improve safety and reduce costs, it was the first nuclear power plant in Europe since the Chernobyl disaster in 1986.
The Olkiluoto-3 was intended to be a showcase of Franco-German know-how, which was advertised to offer higher power and better safety. But the project was plagued by technological problems and cost overruns.
Costs jumped from an initial estimate of 3 billion euros ($ 3.27 billion) to about 11 billion euros, according to the 2019 Global Nuclear Industry Report.
The Finnish Ministry of Economy and the country’s nuclear power regulator said the project was suffering from a number of technical problems and delays due to poor project management and poor construction.
Repeated delays have led to sharp compensation disputes between the Finnish company TVO and Areva, with the latter finally agreeing in March 2018 to pay TVO financial compensation of 450 million euros.
How will it help Finland’s energy needs?
Over time, Olkiluoto-3 is expected to reduce the need for electricity imports from Russia, Sweden and Norway and lead to lower prices.
The Olkiluoto-3 will run in parallel with two existing reactors, and will eventually become the most powerful reactor in Europe.
Once regular power generation increases in July, the reactor will supply about 14% of Finland’s energy to 1,650 megawatts, TVO said.
“OL3 significantly improves Finland ‘s self – sufficiency in electricity and helps meet its carbon offset targets,” the company said in a statement.
Finland’s net energy imports have averaged 13 terawatt hours (TWh) in recent years, which is expected to halve by 2025 with Olkiluoto-3 in operation.
Is Europe ready for a nuclear revival?
Nuclear energy remains controversial in Europe, and the European Union’s recent announcement that it plans to designate it as green energy has won praise and criticism.
While countries like Germany are phasing out their nuclear reactors, citing safety concerns, France, Britain and others are planning new nuclear projects.
Russia’s invasion of Ukraine has also focused on how to reduce Europe’s dependence on Russian energy, and some politicians point to nuclear as a self-sufficient, cheaper alternative.
mm / dj (AFP, Reuters)
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