Rautaruukki participating in Fennovoima's nuclear power project

Rautaruukki participating in Fennovoima's nuclear power project

Feb 26, 2014  | Energy 

Rautaruukki participating in Fennovoima's nuclear power project
(Photo by: brewbooks)

Rautaruukki has today confirmed to Voimaosakeyhtiö SF its binding commitment to participate in Fennovoima's Hanhikivi 1 nuclear power plant project.

Rautaruukki's share of the output of the plant's nominal capacity is estimated to be around 40 MW. Over the following 10 years, Rautaruukki will invest around EUR 60 million in the project. Most of the investment will be back loaded.

Rautaruukki's involvement in the project is one way the company can spread purchases of the electricity needed in steel production. The company seeks to ensure a long-term supply of competitive, steadily-priced, carbon-dioxide-free electricity.

Fennovoima's Hanhikivi 1 nuclear power plant is to be built in Pyhäjoki, Northern Ostrobothnia. The power plant is scheduled to enter commercial service in 2024.

Via brewbooks
Image,video ©: brewbooks