DHAKA: Finnish lawmakers on Friday voted in favor of granting a new permit for construction of a nuclear power plant by the Fennovoima Power construction in cooperation with Russia’s state corporation Rosatom.

The vote was promoted by Fennovoima’s supplement to the original decision-on-principle to build the nuke plant in Pyhajoki, north-west province of Finland.

“I want to thank Parliament for the trust they have shown in this important project. The Hanhikivi 1 nuclear power plant will generate emission-free electricity for Fennovoima’s owners at a predictable and reasonable price for decades to come. This large-scale investment will create jobs and give a much-needed boost to the economy,” Toni Hemminki, CEO of Fennovoima said.

Fennovoima will have to submit an application for construction licence for the Hanhikivi-1 NPP to the Finnish Government by the end of June, 2015. The plant’s design and construction licence application are being prepared together with Rusatom overseas, sister concern of Rosatom, who will supply and set up the reactor.

The construction is likely to begin in 2015 and the plant is expected to supply electricity by 2024. Rusatom overseas will set up VVER 1200 reactor with a capacity of 1200 MWe. The project is being implemented in full compliance with Finnish employment legislation and recognized practices. Rosatom will have 34% stake in the project.

Presently four nuclear reactors in Finland supplies 30% of the country’s total electricity need. Fifth reactor is under construction. 

BDST: 1859 HRS, DEC 07, 2014