Release date: 7 June 2016
Promoter – Financial Intermediary
TEOLLISUUDEN VOIMA OYJLocation
Description
Investment in safety improvements including replacement of emergency diesel generators and reactor internal pumps, as well as introduction of a new additional emergency feedwater system at the Olkiluoto (Finland) nuclear power plant
Objectives
The project will contribute to improvements in safety and reliability of low-carbon electricity supply.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 227 million
Environmental aspects
Based on technical characteristics of the safety upgrade investment project schemes they will not require environmental impact assessments. The project works are planned to be implemented at an existing operational site and they are mostly related to replacement of existing equipment. The project activities are expected to have minimal environmental impact. The typically anticipated impact is mainly temporary and relates to construction and installation works and can usually be well managed by appropriate measures taken during project implementation.
Procurement
The promoter is a private company operating in the utilities sector; however the electricity sector in Finland, based on an exemption granted by the European Commission, is not subject to EU rules on public procurement.
Status
Signed - 30/09/2016
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).