PRESS RELEASE 5 September 2013
Fortum has signed a collaboration agreement with the Russian State Atomic
Energy Corporation ROSATOM and Rolls-Royce Plc. in the area of nuclear power
development. The collaboration will jointly investigate the feasibility of
ROSATOM's VVER-type reactors for the UK new build programme. Fortum has not
made any investment decisions related to new nuclear in the UK.
During the first phase, the partners will launch preparatory work towards
Generic Design Assessment of a VVER-type power plant and site licensing. Both
are part of the wider approvals process required for new nuclear reactors in
the UK. First commercial contracts between the parties have been signed.
In the UK, the current fleet of nuclear power plants is nearing the end of its
lifetime. At the same time, the country aims to radically decrease its CO2
emissions. Thus, the UK government is preparing mechanisms that would enable
new nuclear plants to be built in the UK.
“In this project our role and contribution is to support the work by bringing
on board our nuclear competence in various areas such as safety and waste
management on commercial terms,” says Matti Ruotsala, Executive Vice President
of Fortum Corporation. "We see the nuclear programme in the UK as a really
interesting opportunity to utilise our wide expertise."
Fortum has extensive experience in building, operating, maintaining and
upgrading nuclear power plants. Fortum is internationally recognised for its
know-how in nuclear safety and waste management and has a successful
track-record of operating the Russian VVER-type reactors for over 30 years at
its Loviisa nuclear power plant in Finland. Fortum provides expert nuclear
services and products that can be used in supporting various preparatory and
analytical work, licensing and overall nuclear new build programmes.
ROSATOM is one of the largest nuclear power plant and nuclear fuel cycle
service providers globally, as well as the world’s second largest nuclear
Rolls-Royce has significant nuclear skills, a large existing nuclear supply
chain and a long-standing presence in a number of key phases of the nuclear
programme.It has significant experience in safety licensing services and
Generic Design Assessments of nuclear power plant designs in the UK.
The collaboration agreement is a continuation to the strategic cooperation
between ROSATOM and Fortum, based on the Memorandum of Understanding signed in
Matti Ruotsala, Executive Vice President, Fortum, tel. +358 40 048 7052
Fortum's purpose is to create energy that improves life for present and future
generations. Fortum provides sustainable solutions that fulfil the needs for
low emissions, resource efficiency and energy security, and delivers excellent
value to shareholders. Fortum’s activities cover the generation, distribution
and sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and the
Baltics. In the future, the integrating European and fast-growing Asian energy
markets provide additional growth opportunities. In 2012, Fortum’s sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion.
Fortum employs approximately 10,400 people. Fortum’s shares are quoted on
NASDAQ OMX Helsinki.
Further information: www.fortum.com