​TVO appeals Areva State aid decision in support of OL3 EPR completion

13.9.2017

​Teollisuuden Voima Oyj (TVO) has filed an appeal to the General Court of the European Union of the European Commission (EC) Decision of 10 January 2017 on French State aid to the Areva Group.
TVO is an existing customer of the Areva Group and is reliant on it to complete the construction of the Olkiluoto 3 (OL3) EPR nuclear power plant. It has always been, and remains, in TVO’s interest to work with a healthy and competitive French nuclear sector. TVO is not opposed in principle to the intervention by the French State in favour of the Areva Group, provided that TVO’s needs for OL3 EPR are fully taken into account, which is currently not the case.

TVO’s appeal therefore argues, among other things, that the French restructuring and recapitalisation plan in its current form does not provide sufficient guarantees to TVO that the necessary financial, technical and human resources are to be made available for the OL3 EPR project. TVO also considers that the plan does not ensure that Areva is able to meet all current and future liabilities during the last phases of project completion and until the end of the guarantee period.

TVO’s core objective remains the timely completion of the OL3 EPR project within the current project schedule of the plant supplier, and in accordance with the contractual obligations of the Areva-Siemens consortium.