By Juhana Rossi
HELSINKI--A nuclear reactor under construction in Finland is now
forecast to start operations in late 2018, nearly a decade later
than originally planned, the reactor's owner consortium
Teollisuuden Voima Oyj said Monday.
TVO has contracted a consortium led by the French nuclear giant
Areva SA (AREVA.FR) to build a 1,600-megawatt reactor in Olkiluoto,
an island on Finland's west coast.
The new reactor, dubbed Olkiluoto 3, has been under construction
since 2005. It is now expected to start "regular electricity
production" in late 2018, TVO said in a statement.
TVO said its estimate is based on a construction schedule update
provided by Areva in September.
Olkiluoto 3 was originally scheduled to start commercial
operations in 2009.
TVO is in legal dispute with Areva and Siemens AG (SIE.XE)--the
other partner in the construction consortium--over the financial
losses caused by Olkiluoto 3's delays.
TVO submitted to an arbitration court a claim for 1.8 billion
euros ($2.29 billion) against Areva and Siemens in September
2012.
In October 2013, Areva and Siemens raised their counterclaim
against TVO to EUR2.6 billion from EUR1.9 billion.
Write to Juhana Rossi at juhana.rossi@wsj.com
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