Foundation Stone of the Olkiluoto 3 Nuclear Power Plant Unit Laid Today

 - Some thirty years ago the previous foundation stone was laid here at Olkiluoto in the muncipality of Eurajoki. Since then, Finnish electricity consumption has tripled and power demand continues its moderate upward trend and new power-generating capacity must be built, stated Mr Pertti Simola, Teollisuuden Voima Oy's President and CEO in the Foundation Stone Laying Ceremony.

According to Mr Paavo Lipponen history in Finnish energy policy is made at Olkiluoto. 

- Finland's fifth nuclear power reactor has now advanced to the stage where it was supposed to have been a couple of decades ago.  But, as the old saying goes: better late than never.

Mr Pertti Simola believes that the launch of construction of additional nuclear power in Finland will also herald a new era in the use of nuclear power in other countries. In his welcoming address Mr Simola emphasized the importance of electricity to the entire society. - Over the past three decades, Teollisuuden Voima has been transformed from a nuclear energy company serving industrial needs to a company with customers in all sectors of Finnish society. Electricity is one of our most important basic commodities and helps Finland to remain prosperous and maintain and improve its competitiveness, he stated.

The foundation stone will be buried under the foundation of main cooling water pumping building of the new unit. - The surrounding Finnish bedrock symbolizes the solid basis on which Teollisuuden Voima has been built and will continue to build its success, said Mr Simola ceremonially when reading the text of the document to be buried in the foundations.

Olkiluoto 3 - An Important Investment Decision 

Chairman of TVO's Board of Directors, Pohjolan Voima Oy's President and CEO, Mr Timo Rajala considers the power production machinery built during decades versatile and competitive.  However, he does not see the future to be as good. The versatility will be hampered by the emission trade aimed at the reduction of carbon dioxide emissions.

- It remains to be seen what its effects will be during the coming decades.

- During the last few months there has been a wide discussion in the Nordic countries about the functioning of the electricity market. In my opinion it is a mistake to rely on the electricity market alone. The market does not create sufficient new capacity. Only a part of power production should be subjected to the market, says Mr Rajala. Of his opinion, the investment decision on Olkiluoto 3 is especially remarkable and nuclear power is an optimal answer to the problems related to emission trade and functioning of the electricity market.

According to Mr Rajala, the participants; the industries, municipal electricity works and energy companies, more than 60 in all, have been open-minded and ready to commit in the Olkiluoto 3 project. - Already from the beginning, they have given their wide support and held a strong faith in the necessity of this project. Also the mutual operation model based on production at cost has been proven effective in Finland, emphasized Mr Rajala.

Mr Paavo Lipponen, Speaker of the Finnish Parliament, sees that from the perspective of the Government's employment target, the timing of the project is propitious.

- When it goes on stream, this additional facility that we are now celebrating will support Finland's energy policy by increasing our security of electricity supply and substantially reducing carbon dioxide emissions, he stressed.

The Speaker considered also essential that the ground rules governing the Nordic electricity market will be developed.  - It must also be ensured at the same time that forms of production causing no carbon dioxide emissions do not become subject to punitive taxation.

Mr Lipponen reminded that global electricity consumption is forecast to grow by 75 per cent in the next 20 years. According to him, there is no one solution for the problems of different countries on offer; instead, the energy solutions that are most suitable and also best in the light of sustainable development are most usually region-specific. Mr Speaker referred to the final declaration of the World Energy Conference. - All energy options must be kept open and no technology should be idolised or demonised. All forms of energy production will be needed if forecasts of growth in world energy consumption prove correct.

Finland - A Pioneer

Representative of the plant supplier AREVA, Mrs Anne Lauvergeon, Chairman of the Executive Board, sees Finland as a pioneer in choosing the EPR two years ago.  She told in the press conference arranged in connection with the Foundation Stone Laying Ceremony that the EPR plant unit will meet two TVO's expectations at the same time. - It is an evolutionary reactor based on a sound and proven PWR technology, and a reactor which sets major benchmarks in terms of economics and safety.  EPR is the very state-of-the art of nuclear technology, reminded Mrs Anne Lauvergeon.

Mr Martin Landtman, Director of the Olkiluoto 3 project, stated that the project has proceeded well. Also in the future co-operation between all partners is important in the new Olkiluoto 3 project, the biggest ever single industrial investment in Finland. - Olkiluoto 3 is the biggest ongoing investment in Europe in this field presently. To give an impression of the size of the project: about 250,000 m3 of reinforced concrete in total shall be poured here at Olkiluoto, this again can be compared to the concrete needed to build 5 000 sizeable apartment houses.

For further information, please, contact:

- Mr Pertti Simola, President and CEO,

tel. +358 2 8381 2000

- Mr Martin Landtman, Senior Vice President, Project,

tel. +358 2 8381 4100

- Mrs Anneli Nikula, Senior Vice President, CSR and Communication,

tel. +358 2 8381 5200

- Mr Juhani Ikonen, Communications Manager,

tel.+358 2 8381 5210