15 partners leave Finland’s troubled nuclear power consortium
More partners pull out of Fennovoima nuclear project UUTISET, 14 Nov 13, The consortium of Finnish power companies backing a planned nuclear power plant in Pyhäjoki, western Finland is shrinking. Some 15 members of the Fennovoima public power consortium announced Thursday that they were pulling out of the project, leaving 45 partners still on board. Thursday’s development saw 15 members of the Voimaosakeyhtiö SF announce their withdrawal from the planned nuclear power project in Ostrobothnia, western Finland. Voimaosakeyhtiö is a power consortium comprising 67 companies who jointly own Fennovoima.
Among the companies that decided to withdraw support from the nuclear power plant are Boliden Harjavalta, Boliden Kokkola and Componenta.Back in 2012, Finnish retail cooperative S-Group and the German-based power giant E.ON announced that they were leaving the project behind. E.ON sold its 34 percent stake in the consortium, saying that the move was part of a strategy to sell off all of its Finnish operations. S-Group said it shed its three-percent shareholding to focus on investments that would benefit its shareholders.
Fennovoima still in talks with Rosatom
About 45 companies remain as partners to the project. However their support is still conditional, given that Fennovoima is still in talks with Russian nuclear contractor and proposed minority owner, Rosatom. The remaining consortium members include mining company Talvivaara, steel company Outokumpu, dairy company Valio and a group of regional energy companies…….http://yle.fi/uutiset/more_partners_pull_out_of_fennovoima_nuclear_projec
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Fennovoima reports: 50,28% of shares still in the project. If Rosatom buys the remaining shares, only 600 MW of production will be available on Finnish market. This is about 1/3 of the original proposition. 100% of nuclear waste will stay in Finland. A new political decision by the parliament will be needed.
This 50,28% will change dramatically, if the Talvivaara mining company goes bankrupt. It has about 5% of shares.
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