Finland utility picks GE Hitachi Nuclear Energy for new reactor project

Helsinki, Finland, March 27, 2012 — Teollisuuden Voima Oyj has selected GE Hitachi Nuclear Energy (GEH) to participate in the bidding process to build the utility's proposed fourth reactor unit at the Olkiluoto nuclear power station (OL4) on Finland's west coast.

GEH will enter its Economic Simplified Boiling Water Reactor into the bidding process. The invitation comes after TVO and GEH recently signed a licensing feasibility study contract in February.

The ESBWR features passive safety and advanced modular construction methods. In particular, the ESBWR will benefit from the extensive construction experience gained from GEH's ABWR new-build projects in Japan and Taiwan.

The bid also will illustrate GEH's supply chain with local content that will enable on-time and on-budget construction. ESBWR's passive safety features allow the reactor to safely cool itself with no AC electrical power or human action for more than seven days, and after that, only simple actions are necessary to maintain cooling.

GEH is partnering with Fluor Corp. to jointly prepare the bid while expanding its local business presence in Finland. This will enhance GEH's global project supply chain and provide TVO with the most competitive bid for an ESBWR project.

Finland has four nuclear reactors that supply nearly 30 percent of the country's electricity, according to the World Nuclear Association. In July 2010, Finland's parliament ratified "Decisions in Principle" for the construction of two additional reactors, including TVO's "Olkiluoto-4" project.

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