The European Investment Bank (EIB) is lending Finnish energy supplier Teollisuuden Voima Oyj (TVO) €90m ($104m) to upgrade the Olkiluoto-1 and -2 nuclear power plants in Finland.
The EIB – the long-term lending institution of the European Union, owned by its member states – said in a statement that TVO plans to update automation and control systems and replace components known as steam separators in the two units.
The upgrades, which will be implemented progressively over a number of years, are essential for maintaining high safety standards and operational reliability at the Olkiluoto plant, which has a total of three units, the EIB said.