Investment Overview
The European Investment Bank (EIB) is providing €90 million to Teollisuuden Voima Oyj (TVO) for upgrading two nuclear power units at the Olkiluoto plant in Finland. This initiative aims to ensure the continued safe and low-carbon electricity generation in compliance with Finnish and EU regulations.
Upgrade Details
The project focuses on reactors 1 and 2, involving updates to automation and control systems and the replacement of steam separators. These upgrades will be implemented progressively over several years to maintain high safety standards and operational reliability.
Regulatory Compliance
The planned improvements are mandated by Finnish and EU nuclear-safety legislation. They form part of TVO’s long-term investment strategy to ensure the safe and efficient operation of the Olkiluoto plant, which consists of three units.
Energy and Climate Goals
By supporting these upgrades, the EIB contributes to Finland's energy independence and the EU's climate objectives, promoting large-scale low-carbon power generation. The project aligns with the EU’s “Energy Roadmap 2050,” which envisions a role for nuclear energy in the energy mix of Member States that choose to use it.
