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Fortum Plans to Modernize Finnish Nuclear Power Plant Loviisa

MT Newswires·01/05/2026 02:56:09
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02:56 AM EST, 01/05/2026 (MT Newswires) -- Nordic energy company Fortum (FORTUM.HE) plans to upgrade its Loviisa nuclear power plant in Finland through projects under an investment program set to commence during the annual outage in 2026. The projects will include modernization of low-pressure turbines, renewal of turbine automation, and replacement of main seawater pumps and motors, according to a Monday release. The investment decision for each project will be conducted separately. Fortum estimates the total investment required for the lifetime operations of the plant, which has an operating license until 2050, to be 1 billion euros.