Fortum has signed an agreement with Westinghouse Electric Company for the design, licensing, and supply of a new fuel type for the Loviisa power plant. The new fuel type is based on British Nuclear Fuel Limited's fuel that was supplied to the Loviisa power plant from 2001-2007 and used in parallel with the fuel supplied by the Russian TVEL in the early 2000s. Taking the new fuel into use is a multi-year project requiring regulatory approvals.
'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.
'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', says Tarik Choho, Westinghouse President of Nuclear Fuel.
The fuel agreement with the Russian TVEL is valid until the end of the current operating licences, i.e. 2027 and 2030. In spring 2022, Fortum applied for a new operating licence for both Loviisa power plant units until 2050, and announced that a tendering process will be arranged for fuel supply for the new operating licence period. The agreement signed with Westinghouse Electric Company supports Fortum's aim to strengthen the security of energy supply; the experiences gained from the use of the new fuel will create prerequisites for successful fuel tendering.
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Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
Loviisa nuclear power plant
In 2021, the load factor at Fortum's fully-owned Loviisa nuclear power plant was 92.9%. The continuous development and modernisation of the power plant enable load factors that are among the best for pressurised water reactors on an international scale. During the past five years Fortum's investments in the Loviisa power plant have totaled about EUR 325 million. In 2021, the power plant produced a total of 8.2 terawatt hours (net) of electricity, which is more than 10% of Finland's electricity production. Fortum employs about 700 nuclear sector professionals, 530 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: www.fortum.com/loviisa
Fortum is an energy company driving the change for a cleaner world. Our role is to ensure the security of supply and a fast and reliable transition to a carbon-neutral economy by providing customers and societies with clean energy and sustainable solutions. Fortum's core operations are located in the Nordics and consist of CO2-free power generation, electricity sales, district heating as well as recycling and waste solutions. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com