It will employ thousands of people during construction period.
The decision was taken by Voimaosakeyhtiö and RAOS Voima, which own the project promoter Fennovoima.
Finland’s Ministry of Employment & the Economy is now preparing a proposal for Fennovoima’s application to supplement the decision-in-principle. If the government approves the application, the application will proceed to parliamentary ratification.
The project is designed to increase Finland’s self-sufficiency in electricity generation and strengthen the security of supply. According to the agreed schedule, the power plant will generate electricity for its owners at cost price starting from 2024.
Got a story? Email news@theconstructionindex.co.uk
