nuclear-news

Minister of Economic Affairs Jan Vapaavuori of the National Coalition Party said that the proposed Fennovoima nuclear plant would have to be under “clear domestic ownership”.

Neither Vapaavuori nor the Ministry of Economic Affairs have announced how much of the plant should specifically be owned by Finnish interest groups.

One reason behind the uneasiness of some MPs is the escalating situation in Ukraine, and the repercussions on Finnish-Russian ties. Russia enforced EU-wide sanctions as a countermeasure to EU and US sanctions in early August……..

Ownership figures misleading

The Russian national nuclear power company Rosatom currently owns 34 percent of the Pyhäjoki plant. According to Fennovoima, the Finnish stake is at 52 percent.

However, the company fails to discount two companies – Rautaruukki and Kestra – in their calculations. Kestra announced in March that it washes its hands of the power plant issue, while Rautaruukki was acquired by the Swedish SSAB in July.

As Kestra owns 4.5 percent of Fennovoima and SSAB owns 3.3 percent, a simple equation will show that the Finnish ownership of the power plant is actually only at 44.2 percent. http://yle.fi/uutiset/ukraine_divides_mps_over_fennovoima_nuclear_plant_ownership/7420930