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Decision in principle for two new nuclear rectors in Finland

|Includes:EONGY, Fortum Oyj (FOJCF)

Fortum's application for decision-in-principle for the construction of one more nuclear reactor in Finland was rejected today as the only one from from the three applicants. However, Fortum owns 26,6% stake in Teollisuuden Voima (TVO) that got green light for it's fourth reactor while even it's third is years from being online.

It seems that the cabinet of Finland will propose two new reactor licenses for approval in Finnish parliament. If approved in parliament, these would go to TVO and Fennovoima. Behind Fennovoima are various Finnish entities with 66% stake and the world’s largest privately owned energy company E.ON from Germany with 34% stake.

Disclosure: Long Fortum

Stocks: FOJCF, EONGY