Westinghouse Electric Company and Fortum recently signed a long-term partnership to develop, license and deliver VVER-440 fuel to the Loviisa Nuclear Power Plant in Finland to guarantee a dependable Western alternative to Russian-supplied fuel.
“The new and parallel fuel supplier will diversify our fuel strategy, improve security of supply and ensure reliable electricity production at the Loviisa power plant also in the future,” says Sasu Valkamo, Vice President, Loviisa Nuclear Power Plant.
“Westinghouse offers the only alternative fuel for this type of reactors that is both designed and manufactured outside of Russia, so this partnership will provide increased energy security for Finland and fuel diversification for Fortum,” said Tarik Choho, Westinghouse President of Nuclear Fuel. “We are proud to support Fortum’s operating fleet with fuel reload quantities, building on our successful collaboration delivering VVER-440 fuel for Loviisa from 2001 to 2007.”
The Loviisa Nuclear Power Plant has two VVER pressurized water reactors (PWR) that cover about 13 percent of Finland's electricity production. The amount of electricity generated at the Loviisa power plant is nearly equivalent to the total combined electricity consumption of the cities of Helsinki, Espoo, and Vantaa.
Key data points: The growth forecast = 5.4% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in the global nuclear decommissioning service market to 2031 by reactor type (pressurized water reactor (PWR), boiling water reactor (BWR), pressurized heavy water reactor (PHWR), gas cooled reactor (GCR), and others), strategy (immediate dismantling, deferred dismantling, and entombment), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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