Wedoany.com Report-Jun 23, Teollisuuden Voima Oyj (TVO) has finalized the acceptance of Olkiluoto 3 (OL3), a 1,600 MWe pressurized water reactor, which began commercial operation in May 2023. The Final Takeover, completed in 2025, marks the fulfillment of the terms outlined in the Plant Supply Contract with the Areva-Siemens consortium.

Marjo Mustonen, TVO Senior Vice President for Electricity Production, stated: “Olkiluoto 3 had operated reliably during the first two years. The annual outage this spring, the second one at the unit, was also completed successfully. The Final Takeover of OL3 was based on the fulfilment of the terms and conditions laid down in the Plant Supply Contract, but the many benefits we promised OL3 would bring to society have been realised already since 2023.”

TVO highlighted that OL3 has significantly enhanced Finland’s electricity self-sufficiency, stabilized prices, and supported the transition to a carbon-neutral society. Construction, led by the Areva-Siemens consortium under a fixed-price turnkey contract, began in 2005. Despite delays from the original 2009 completion target, OL3 reached first criticality on December 21, 2021, and was grid-connected on March 12, 2022. TVO issued an acceptance certificate in April 2023, with the consortium maintaining liability through the two-year warranty period until the final handover.

TVO, owned 27% by Fortum and 57% by Pohjolan Voima Oy (primarily held by UPM Oyj and Stora Enso Oyj), distributes electricity to its owners at cost, with surplus sold to the Nordic market. The owners, mainly heavy industries, rely on low-cost base-load power.

The French Government Shareholding Agency noted: “This final takeover marks a major milestone for Areva, whose activities were refocused on the completion of the OL3 reactor after the restructuring of the French nuclear sector in 2015. It is also a significant step for France, whose Government is the reference shareholder of Areva and a key supporter of the French nuclear industry.”

The agency emphasized that the expertise gained will advance EPR technology development. Finland’s five reactors, including two at Loviisa and three at Olkiluoto, supply about a third of its electricity. OL3 is Europe’s first commercially operated EPR, following China’s Taishan 1 and 2, operational since 2018 and 2019, respectively.

The successful completion of OL3 strengthens Finland’s clean energy infrastructure and supports the global advancement of nuclear technology for sustainable energy solutions.