Fennovoima: Carbon-free energy is part of the solution
We need a lot of clean energy in Finland. We need it for the industry. We need it for households. We need it for the people. At present, Finland imports much of its electricity from other Nordic countries, and it would be beneficial for the economy to have greater domestic clean energy production.
As a country, Finland has also made the decision to ban the use of coal by 2029, prompting organisations across the country to align with the 2030 Sustainability Development Goals set by the United Nations. This would allow Finland to meet its climate targets. Fennovoima’s mission is to build a 1200 MW nuclear power plant in Finland to provide stable, carbon free energy and make a significant contribution to climate action, as well as responsible production and consumption.
Nuclear is carbon neutral
On a global scale, about 80% of all energy is produced from fossil fuels. This cannot continue. We need all carbon-neutral energy sources to be maximised in order to counter growing emissions and climate change, and nuclear plays a major role in this.
Nuclear power offers a reliable way to generate energy with the lowest emissions. The greenhouse gas emissions from nuclear power throughout its life cycle are at the same level as wind power, and approximately one hundredth of the emissions from coal power.
Modern society needs electricity 24 hours a day, and nuclear provides reliable baseload power at a stable price. Nuclear power is an excellent solution as its production does not depend on weather or season, unlike wind and solar power. Managing variations just in consumption is easier than managing them in both consumption and production.
Once completed, Hanhikivi 1, Fennovoima’s plant in Northern Finland, will produce an immense amount of energy for decades. The lifetime of the plant is at least 60 years, guaranteeing stable, carbon-free energy beyond the targets of the Finnish government. During this time it will generate electricity 24 hours a day, except planned outage periods.
New jobs in Northern Finland
Fennovoima has a green field site in Northern Finland, which means that it is bringing new jobs in the region.
During the most intensive construction phase, approximately 4,000 employees will be working at the site. Operational plant will employ 450–500 people. According to the study on regional resource flows and Ramboll, one job at the construction site during the construction phase will create five new jobs outside the site.
Hanhikivi 1 will benefit the Finnish national economy through tax revenues, which will increase by approximately 420–630 million euros during the construction phase. The taxes to be paid during the operational phase will amount to about 49 million euros annually, taking the multiplier effects into account.
The Hanhikivi 1 project has strong local support – almost 73% of the Pyhäjoki residents are in favour of the new NPP. Of the residents of the local municipalities of Pyhäjoki, Kalajoki, Merijärvi, Oulainen, and Raahe, 67.2 percent have a positive view of the project.
Local people can visit Fennovoima’s local office in Pyhäjoki and get information about the project and the nuclear energy.
In Europe Finland is a leader in nuclear power, with expertise in construction and operation of NPPs as well as in disposal of nuclear waste. Other countries can use this expertise as a template to decarbonize their own power industries. Thus, Finland can play part in supporting other nations on the road to sustainability.