Nuclear power plays an important role in Fortum's energy production. As a CO2-free and reliable base-load source, nuclear power is needed to secure the supply of energy and to mitigate climate change. Its greenhouse gas emissions during its lifecycle are as low as in wind, hydro and solar power.
Fortum generated 24.1 terawatt-hours of nuclear power in 2016, contributing to one third of the company's total electricity production.
In 2014, nuclear power accounted for approximately 16% of electricity production globally. In Europe and in Finland, nuclear power accounts for about one third of the electricity production. The majority of the world's nuclear power plant reactors are light water reactors that use water as the neutron moderator and as the fuel coolant. There are two basic types of light water reactors: boiling water reactors and pressurised water reactors. Of the world's nuclear reactors used for electricity production, about 66% are pressurised water reactors and about 23% boiling water reactors. The Loviisa power plant has two pressurised water reactors (VVER), Loviisa 1 and Loviisa 2, both with capacities of 502 MW net.
Light water reactors use enriched uranium as fuel. Uranium fuel is described in more detail on the page Fuels.
Fortum has long experience in the responsible operation of nuclear power. We develop our nuclear power plants in accordance with the principle of continuous improvement of safety. We also provide nuclear power-related professional services to other operators in the sector who are seeking Fortum's internationally recognised nuclear power expertise.
Nuclear power plants
Fortum owns a total of 3,004 megawatts (MW) of nuclear power capacity, 1,465 MW of which is located in Finland and 1,539 MW in Sweden (2015).
Our fully-owned Loviisa power plant in Finland has two nuclear power units, which we operate. In addition, we have co-owned nuclear capacity in eight reactors in Finland and Sweden:
- Loviisa power plant (Fortum's share 100%)
- Forsmark Kraftgrupp AB (Fortum's share 22.2%)
- OKG AB (Fortum's share 43.4%)
- TVO Oyj, Olkiluoto units 1 and 2 (Fortum's share 26.6%)
In autumn 2015 a decision was made to close down two of OKG AB's three reactors in Oskarshamn, Sweden (stock exchange release on 14 Oct 2015).
Through our holding in TVO, we are participating in the new Olkiluoto 3 power plant unit currently under construction.
In August 2015 we decided to participate in the Fennovoima nuclear power project in Finland with a 6.6 per cent share and on the same terms and conditions as the other Finnish companies participating in the project (stock exchange release on 5 Aug 2015). Participation will be carried out through Voimaosakeyhtiö SF.
In 2015, Fortum continued to supply ion exchange materials for the purification of radioactive liquids in Fukushima, Japan (press release on 22 Sept 2015).