Toshiba Cooperates with Fennovoima for Nuclear Power in Finland

December 21, 2010 by | Comments

Toshiba today announced that it has signed a technical development agreement for the construction of a nuclear power plant with Finland’s Fennovoima. Under the scope of the agreement, Toshiba will provide essential engineering data on its Advanced Boiling Water Reactor (ABWR) that Fennovoima will evaluate prior to applying for a construction license for the plant.

Fennovoima was established in 2007 and announced that its goal was to “own and operate the safest, most efficient, and best performing nuclear power plant in the world.” In May 2010, the Finnish government granted the company a Decision-in-Principle in favour of the construction of a plant, a move that was ratified by the Finnish parliament this July. Fennovoima is now conducting technical evaluations in preparation for construction of the new plant, with the goal of starting operation in 2020.

Toshiba, working with its U.S. subsidiary Westinghouse Electric Company, has proposed its 1,600 megawatt ABWR to Fennovoima since 2008, and has now been selected to support technical development of the new plant. The company will continue to provide engineering support through to Fennovoima’s final selection of a supplier of the nuclear power plant in 2012.

As a leader in the global nuclear power generation industry, Toshiba, in close collaboration with Westinghouse, will continue to respond to expanding demand for new nuclear power plants and aftermarket services for installed equipment, and to proactively promote the nuclear power business as a long term solution to meeting growing demand for power while countering global warming.

Outline of Fennovoima

Name: Fennovoima Oy
Location: Helsinki, Finland
Founded: In 2007
CEO: Tapio Saarenpää
Ownership: Voimaosakeyhtiö SF 66%, E.ON Kärnkraft Finland 34%
Business: Nuclear power generation business

–(Toshiba Corporation News Releases)–

Enjoyed it? Share it!

Digg facebook delicious live
google linkedin myspace reddit
stumble technorati twitter Yahoo
This page is archived in:

- Feeds - Financial - News 

Tags: toshiba
Stay Tuned...