Fortum, Helen mull small nuke plant cooperation

Two leading Finnish energy companies- Fortum and Helen- are initiating a joint study to explore the prerequisites for collaboration in nuclear power and small modular reactors (SMR), in particular, said the companies in separate press releases on Friday.

The study is linked to the Fortum project announced in October to explore the prerequisites for nuclear power in Finland and Sweden, including the mapping of potential partner networks and cooperation arrangements.

“Because of the uncertainty in the energy markets, projects carried out in the nuclear sector in the future are most likely to happen through various cooperation arrangements. The study being initiated with Helen regarding the prerequisites for cooperation is a great starting point not only for project mapping, but also for the partner mapping that we are doing with various parties as part of a broader look at nuclear power over the next couple of years,” said Jukka Hautojärvi, Fortum’s representative in Fortum and Helen’s joint study group.

Fortum and Helen are forming a study group to explore possible synergy benefits.

“We will start the mapping from a clean slate. Our extensive exploratory work on the prerequisites of new nuclear power is just beginning, and we are not ruling out any form of cooperation at this point,” Hautojärvi said.

Cooperation between energy sector players will be emphasised in nuclear power in the future.

“Helen has been interested in SMRs for some time already and has also expressed this publicly. We regard SMRs as one noteworthy production form of zero-emission energy for heating in Helsinki and also for electricity generation in the future. Helen has world-class expertise in the development of the largest district heating system in Finland, and Fortum has competence in the nuclear power technology. By combining these strengths, we could create a productive cooperation that would increase Finland’s energy self-sufficiency,” said Harri Mattila, Senior Vice President, Energy Procurement and Wholesale.

Nuclear power’s role as part of a sustainable energy mix for the future is also still seen as important.

On the international level, the development of various reactor concepts is well advanced. For example, in Canada, Ontario Power Generation has launched the preparation work for a plant project together with a western plant supplier and in Sweden the newly appointed government has undertaken to build more nuclear power in its government programme.

As SMRs become more common, it would be sensible to harmonise safety requirements in the EU region. In the investigation work, we will also aim to find efficient solutions for the design, land use planning and the licensing process. In cooperation with the authorities and decision-makers, we can speed up the process for modular nuclear power, which is in the best interests of the whole country.

The legislative work related to SMRs is still ongoing, and therefore various options in terms of the potential location are investigated. If modular nuclear power is utilised as efficiently as possible, it would be sensible to build the plant within a reasonable distance from the sites to be supplied with heat. Of course, a plant located within a further distance would also be possible.

Any future decisions on cooperation and investments will be made at a later stage.