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International media interest in OL3 grows
4.2.2016
The international media show an increased interest in OL3 and cover news related to it more frequently.
The reason for this is the challenging economic situation of Areva, and the ownership arrangements being planned. According to information revealed last week, the French government intends to provide approximately five billion euros of funding to Areva.
The additional funding from the government is a step in the arrangements that aim for the transfer of majority ownership in Areva’s nuclear energy business, Areva NP, to EdF, another French energy corporation. The OL3 nuclear power plant unit was ordered as a turnkey delivery from the consortium formed by AREVA GmbH, AREVA NP SAS and Siemens AG.
At the moment, the French government owns a majority in both Areva and AdF. Political decision-making plays a distinctive role in the ownership arrangements of the nuclear power business in France. The Finnish Minister of Economic Affairs Olli Rehn corrected misconceptions of the French media and explained the role of politics in Finland, stating in his press release that “the Finnish government has no need or authority to tell private corporations what to do”.
In the last few days, TVO has given interviews on the matter to the international media. According to TVO’s Chairman of the Board Lauri Virkkunen, the entire nuclear power sector keeps a close eye on Areva’s ownership arrangements. They are expected to build new confidence in the French nuclear industry.
Virkkunen also rejected the media’s allegations of TVO not wanting OL3 to be completed soon due to the low market price of electricity. He said that having OL3 completed quickly is the first objective of TVO and that the ownership arrangements now in process need to strengthen the customer’s confidence of that happening. TVO wants to be involved in the solution and any discussions.
Read one of the most recent news stories here.