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Olkiluoto 3 (OL3) is a new generation power plant unit, which features modern technology with a proven basis as well as advanced new safety solutions. When in operation, the unit will in terms of operating functions, safety and reliability represent the top standard of nuclear power plants in the world.

OL3 is an EPR (European Pressurized Water Reactor) type plant featuring technology based on good operating experience and results gained at the most recently commissioned European reactors. Particular attention has been paid to factors that enhance safety even further, such as prevention and management of severe accidents, as well as to efficient and economical production. The N4 plant type in France and the Konvoi type in Germany have served as starting points for development work. OL3 project is executed as a turn-key project by the French-German consortium formed by AREVA NP GmbH, AREVA NP SAS and Siemens AG.

The new nuclear power plant unit is located on the west end of the Island of Olkiluoto, beside the OL1 and OL2 units. The net electrical output of the plant unit is ca. 1 600 MW.

The Finnish Government made in January 2002 a Decision-In-Principle in favour of a fifth nuclear power plant unit in Finland, and the decision was ratified by the Parliament in May 2002. After the competitive bidding process and completion of earthworks that were carried out by TVO, the OL3 worksite was handed over to the plant supplier and the actual construction project started in the spring of 2005.