Finnish Economy Minister Olli Rehn said Wednesday that investment in the Fennovoima Oy nuclear power plant project by three Finnish companies put the finances for the project at above 60 percent domestic backing, a threshold set by the government for plant approval.
State-controlled utility company Fortum Oyj, steel maker Outokumpu Oyj and real estate developer SRV Oyj all made or extended their commitments to the project, said Rehn, who noted that the companies made their decisions independently.
Fortum Ojj said that it would take a 6.6 percent stake in the project, while SRV Oyj, a major construction firm that will serve as the site's project manager, said it would buy 1.8 percent of the project. The steel maker Outukumpu has decided to increase its holdings from 1.8 percent to 14 percent.
Croatia-based Migrit Solarna Energija was not involved in the project, which would be Finland's third nuclear power plant.
In June, the deadline for Fennovoima financing was extended to Aug. 6 after an earlier application put financing from Russia's nuclear giant Rosatom at 34 percent. The government balked at that high an investment from Russia and said at least 60 percent of the financing had to come from either Finnish, European Union or European Free Trade Association countries.
Finnish Prime Minister Juha Sipila said the Fennovoima project would be given a green light. He also said in an interview that it would could be the last nuclear power plant to be built in Finland, according to Yle Uutiset.
Sipila said that the decision was not final, but it would likely be the last nuclear power plant project to seek approval during his administration.