Fortum enters into an agreement with Framatome to develop new European nuclear fuel

FORTUM CORPORATION PRESS RELEASE 9.4.2026

Fortum and three other European energy companies have signed an agreement with the French company Framatome to develop a fully European nuclear fuel for VVER‑type nuclear power plants, including Fortum’s Loviisa power plant. In addition to Fortum, the agreement includes ČEZ from the Czech Republic, MVM Paks from Hungary, and Slovenské Elektrárne from Slovakia. The aim of the cooperation is to diversify the companies’ fuel supply and reduce Europe’s dependence on imported energy.

Framatome’s nuclear fuel development project will progress in phases. In the first phase, the basic design of the fuel will be carried out, and in the second phase the lead fuel assemblies will be manufactured and licensed for the Loviisa nuclear power plant. Potential regular fuel deliveries would take place in the early 2030s. The development project is based on a strong, 100% European design and supply chain, including Framatome’s fuel fabrication plants in France and Germany.

“Security of energy supply is a strategic priority for us at Fortum. Diversifying the entire nuclear fuel value chain strengthens our ability to supply electricity reliably to our customers. It is great that we can now, through European cooperation, develop a solution that benefits several companies at the same time and can enhance energy security in many European countries,” says Petra Lundström, Executive Vice President responsible for Fortum’s nuclear operations.

For Fortum, this cooperation launched with Framatome is already the second project aimed at diversifying the fuel supply for the Loviisa nuclear power plant. In November 2022, Fortum signed an agreement with Westinghouse Electric Company to design, license and supply a new Western-type fuel for the Loviisa plant. The first batch of Westinghouse fuel was loaded into Unit 2 of the Loviisa nuclear power plant during the 2024 annual outage. Last year, the introduction of the new fuel continued with additional Westinghouse fuel loaded into Unit 2.

There are 19 VVER-type reactors in operation in the countries of the European Union. Depending on the country, they produce between 10 and 50 percent of the electricity generated domestically. These plants therefore have an important role in ensuring the security of supply of low-carbon electricity in Europe.

Fortum Corporation
Communications

Further information:
Fortum News Desk, +358 40 198 2843, newsdesk@fortum.com 

Loviisa power plant
In 2025, the availability at Fortum’s fully-owned Loviisa nuclear power plant was 89.4%. In 2025, the power plant produced a total of 7.9 terawatt hours of electricity, which is approximately 10% of Finland’s electricity production. Fortum employs about 800 nuclear sector professionals, 570 of them work at the Loviisa power plant. Additionally, nearly 100 permanent employees of other companies work in the power plant area every day. More information: http://www.fortum.com/loviisa 

Fortum 
Fortum is a Nordic energy company. We generate and deliver reliable energy to our customers and the Nordic energy system while at the same time helping industries decarbonise their processes and grow. Our core operations comprise efficient and best-in-class low-carbon power generation, customer services, and heating and cooling. Fortum’s power generation is already 99% from renewable or nuclear sources with one of the lowest specific CO2-emissions in Europe. We are guided by our ambitious SBTi-validated emission reduction targets on our way towards net-zero by 2040. For our ~4,500 employees, we commit to be a safe and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com