i-Nuclear update: Planned 2014 start of Olkiluoto-3 off the table

i-NUCLEAR

Planned 2014 start of Olkiluoto-3 off the table, TVO says, on project 5 years behind schedule by I-Nuclear Finnish utility Teollisuuden Voima Oyj (TVO) said July 16 that Olkiluoto-3, the Areva EPR reactor under construction in Finland, will not achieve regular electricity production in 2014 as planned. The Areva-Siemens turnkey EPR project was supposed to be producing electricity in 2009, about four years after the start of construction in 2005. However, delays continue to plague the project with both sides blaming the other. The project is now five years behind schedule and the original €3.3 billion projected cost has more or less doubled. Areva has taken at least €2.7 billion in writedowns on the project. Project delay costs of nearly €2 billion are in dispute.