Finland Delays Olkiluoto 4 Reactor Start to 2028

Finland's nuclear expansion faces another setback as Teollisuuden Voima (TVO) announces that the Olkiluoto 4 reactor will not begin commercial operation until 2028, pushing back the previous target of late 2027. The delay comes as TVO's board of directors is scheduled to meet on May 13 to review the project's construction timeline and assess recent technical challenges. Sources familiar with the project indicate that cost overruns are a key factor in the postponement. The Areva-Siemens consortium, responsible for building the reactor, has reported additional welding defects in the reactor pressure vessel. These defects require further inspection and repairs, contributing to the extended timeline. Current cost estimates for the project stand at approximately 9.5 billion euros, a figure that may increase as work continues. The official announcement regarding the new schedule and potential cost adjustments is expected on May 14, following the board meeting. TVO has not yet issued a formal statement, and the company has declined to comment on unconfirmed reports. The Olkiluoto plant already operates three reactors, with Olkiluoto 3 having started commercial operations in 2023, which often faced technical hurdles and budget pressures. Further details will emerge after the TVO board convenes next week.