Lifetime extension of the Loviisa Nuclear Power Plant
In 2023, the Finnish government granted the Loviisa nuclear power plant a new operating license until the end of 2050. During this new licensing period, the plant is expected to produce up to 177 terawatt-hours of emission-free electricity. The continuous development of the Loviisa nuclear power plant ensures stable production for more than twenty additional years.
Extending the lifetime is a major investment programme
What?
With the new licensing period, a significant investment program will be implemented at the Loviisa power plant to enable the extension of its lifetime. Investments are expected to reach one billion euros by 2050.
Why?
To ensure that Finnish society receives the electricity it needs to meet its ambitious climate goals. Moreover, extending the lifetime is a significant long-term investment in Finland.
How?
The investment program is divided into 8 portfolios, which include over 200 individual projects. Projects will be implemented in phases, and each project will be decided upon separately according to Fortum's investment process.
Why should the lifetime of power plants be extended?
Extending the lifetime of nuclear power plants is worthwhile for many reasons. Extending the lifetime allows for the continued production of emission-free and reliable electricity, which is important for achieving climate targets and ensuring the availability of energy. Additionally, extending the lifetime is a significant economic investment that supports the local economy and employment.
Extending the lifetime requires extensive modernisations and investments. The investments at the Loviisa power plant are expected to reach one billion euros by 2050. This investment ensures that the power plant remains safe and efficient for the coming decades.
Loviisa power plant’s major investment programme
At the Loviisa nuclear power plant, extensive modernisations are planned for the coming years to ensure the stable and safe operation of the plant throughout the new licensing period. The implementation of the long-term operation programme guarantees that Finnish society will continue to receive carbon-free and reliable electricity from Loviisa.
The comprehensive investment programme for the Loviisa nuclear power plant consists of 8 portfolios, which include over 200 individual projects. These projects involve the renewal of equipment, components, and systems, as well as improvements to buildings and infrastructure. Additionally, the plant's automation systems are being updated to meet modern requirements. Each portfolio contributes to enhancing nuclear safety in its own way.
Investment programme consists of 8 portfolios
ForTheDoers blog
Extending the lifetime of a nuclear power plant is a major investment programme
Before the new operating licences, the previous operating licences of the Loviisa power plant were valid until 2027 and 2030. Continuing the production of the power plant is an investment in ensuring that Finnish society receives the electricity it needs to achieve its ambitious climate goals. Extending the lifetime of the Loviisa nuclear power plant is also a significant long-term investment in Finland.
Thanks to continuous development and the expertise of nuclear power experts, the Loviisa power plant is in good condition. This gives us a good starting point for implementing the investments ahead.