NIB finances safety systems in Finnish nuclear power plant units

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Europe

The Nordic Investment Bank and the Finnish energy company Teollisuuden Voima Oyj (TVO) have signed a loan agreement of €65 million to finance safety system upgrades in two existing nuclear power plant units in Finland.

This ten-year loan will contribute to TVO's refurbishment project to upgrade the safety systems in two existing units - Olkiluoto 1 and Olkiluoto 2 - at the nuclear power plant in south-western Finland. The total project cost is approximately €200 million.

The major part of the project is the renewal of the existing emergency diesel generators. TVO will also install a new additional EDG to enhance backup power supply. The project also includes the replacement of the reactor internal pumps and their frequency converters, and the installation of a new alternate coolant injection system.

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