Olkiluoto 3 Reactor

April 20, 2023

Europe’s most powerful nuclear reactor, Olkiluoto 3, has recently started producing regular energy in Finland after a delay of 14 years from its original completion timeline. This costly reactor, with a capacity of 1,600 megawatts, has been connected to the Finnish national power grid in March 2022 and is expected to play a significant role in Finland’s energy production and transition towards green energy.

Olkiluoto 3: Boosting Finland’s Energy Self-Sufficiency

After a test phase lasting more than a year, Olkiluoto 3 has kicked off regular production on 16 April, providing a serious boost to Finland’s electricity self-sufficiency. Currently, Olkiluoto 3 is producing around 14% of the country’s electricity, which is a significant addition to clean, domestic production. The launch of this new nuclear reactor is expected to stabilize the price of electricity and increase energy security, especially at a time when European countries have cut oil and gas from Russia, Finland’s neighbor.

The Technology Behind Olkiluoto 3: European Pressurized Reactor (EPR)

Olkiluoto 3 is the first new-generation European Pressurized Reactor (EPR) plant that has gone online in Europe. Developed in a joint venture between France’s Areva and Germany’s Siemens, this advanced technology has faced several technological problems, leading to delays and lawsuits. However, with its capacity of 1,600 megawatts, Olkiluoto 3 is now operational and expected to remain so for at least the next 60 years, providing a significant contribution to Finland’s energy production.

The Cost of Olkiluoto 3: An Expensive Venture

The construction of Olkiluoto 3 began in 2005 and has faced significant delays, resulting in a final estimated cost of around 11 billion euros ($12 billion). This price tag is almost three times what was initially estimated, making Olkiluoto 3 a costly venture for Finland. However, those who advocate for this project argue that it will help the country increase its energy security and reach its carbon neutrality targets.

Nuclear Power in Finland: Current Status and Future Plans

Presently, Finland has 5 nuclear reactors in two power plants situated on Baltic Sea shores. These plants together cover more than 40% of the nation’s electricity demand. The government of Finland is currently planning to increase the share of energy from nuclear power even further.

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