Jarmo Tanhua, President and CEO, TVO: Success of the French nuclear power restructuring is important

16.6.2016

France is preparing a structural arrangement aiming to ensure the competiveness of the country's nuclear power industry. The arrangement would affect also Olkiluoto 3 Project and therefore TVO has been involved in the discussions with the aim of making an agreement on the completion of the OL3 Project in a possible new structure.

- From TVO's point of view the main objective of the negotiations has been to ensure that OL3 Project has all the resources needed for the completion of the project and the plant unit will be ready for power generation according to schedule. When we receive sufficient assurance about this, we will be ready to transfer the plant contract to a company most appropriate for the restructuring, Jarmo Tanhua, TVO's President and CEO, says.

The French nuclear power industry and related high-level know-how is important to EU's competitiveness and the whole energy sector. The nuclear sector will grow fast in the coming decades when the countries fulfill their commitment to reduce CO₂ emissions according to the Paris climate agreement.

- OL3 will be, when up and running, a flagship reference for the EPR technology, which will be followed from all over the world. The French nuclear industry is at a crossroads. Completion of the OL3 Project is leading the way in the direction in which the French nuclear industry is developed, Tanhua says.

- The success of the rescue operation is of utmost importance, and we are ready to support it. As a customer, we, however, cannot carry the plant contract obligations and risks of the plant supplier. To be competitive, the French nuclear industry has to ensure their technological and industrial capabilities and be committed to the ultimate project completion. The OL3 Project has to be seen as a possibility, not a risk, President and CEO Tanhua emphasizes.

OL3 Project has now proceeded to its final stages. Important milestones have been achieved lately, and works at the site continue in good collaboration with the plant supplier. For the time being, there are no insurmountable technical obstacles. The project has all the prerequisites to proceed well towards the scheduled start up at the end of 2018.

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