Pyhäjoki mayor says new nuclear project is being prepared

Pyhäjoki is preparing a new nuclear power project, according to municipal manager Matti Soronen, who told Yle that extensive work is under way while the municipality awaits a decision on whether the project will proceed.

The project returned to the headlines on Monday after Iltalehti reported financing arrangements worth more than 10 billion euros. The newspaper said Finnish property asset manager Trevian was bringing the financiers together.

Trevian chief executive Reima Södervall told Yle that the company had investigated opportunities at Hanhikivi, the nuclear power site in Pyhäjoki, but could not say what sources Iltalehti had used for its report, including its financing claims. He said Trevian had noted in general terms that projects of this scale require very substantial financing.

Iltalehti reported that the plant would be built by US nuclear company Westinghouse Electric Company.

Asked whether the report had surprised him, Soronen said it had not. He said he was aware that efforts were being made to find a new nuclear project for Hanhikivi.

“We are mainly following the situation and will comment if something concerns the municipality or, for example, planning,” Soronen said. He added that the municipality’s main work had been completed and that it was now waiting for decisions.

Soronen described Hanhikivi as an excellent location with a six-year head start over other sites. Asked whether US visitors had already come to inspect the site, he replied, “Not exactly,” but said he had nothing further to add.

Soronen said the interest shown by Trevian indicated that the company was working hard to advance the project. He also said nuclear power had regained the value it deserved and that he remained confident a new project would eventually be built at Hanhikivi.

Construction of Fennovoima’s nuclear power plant in Pyhäjoki ended in spring 2022 after Russia invaded Ukraine. The plant’s supplier was Rosatom, Russia’s state-owned nuclear company.