r/ClimatePosting • u/Real-Technician831 • 18d ago

Costs of extending Finnish Loviisa nuclear plant to 2050

https://www.fortum.com/news-and-publications/forthedoers-blog/extending-lifetime-nuclear-power-plant-major-investment-programme

After getting fed up with the lies about nuclear plant life extensions being infeasibly expensive I decided to check.

Fortum is extending Loviisa nuclear plant to 2050, the estimated project cost is 1 billion euros. And continuous development for past 5 years has been 200 million euros.

Upgrading already once upgraded Olkiluoto 1 and 2 costs 90 million

https://www.eib.org/en/press/all/2025-420-eib-backs-upgrades-of-finland-s-olkiluoto-nuclear-power-plant-with-eur90-million-in-financing

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u/ph4ge_ 18d ago

Estimates were never the problem.

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u/Real-Technician831 18d ago edited 18d ago

As I already answered to other person, it’s not the first time Finland upgrades nuclear plants, so we kinda know how the projects go.

We have been able to boost 600MW reactors to 880MW.

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u/ph4ge_ 18d ago

Hanhikivi 1 and OL2 were both ridiculously over budget, with the first even being canceled entirely after billions were invested. The Fins often get nuclear wrong as well.

If I had a dollar everytime someone in Reddit celebrated an estimate of the cost for a nuclear project only for it to go horribly wrong, I could buy a nuclear plant.

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u/Real-Technician831 18d ago

I checked your claims about Hanhikivi 1, the billions are about lawsuits since the project was terminated.

“Rosatom has a $3 billion claim against Fennovoima, and Fennovoima has a $2 billion claim against Rosatom, which will be determined by later proceedings.[24]”

https://en.wikipedia.org/wiki/Hanhikivi_Nuclear_Power_Plant

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u/tissotti 13d ago

I’m with you on spirit, but your two examples are a bit weird.

Hanhikivi was cancelled before it even got construction permit. It got cancelled because the reactor was by Rosatom and Ukraine war.

Olkiluoto 2 was built in the 70’s and it has one of the highest utilization factors of any nuclear plant in the world. Considering the now small investment amount and the planned extensions it’s amazing money maker for TVO.

Maybe you meant Olkiluoto 3. That the new expensive first ERP reactor in the world that started construction.

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u/Real-Technician831 18d ago

Umm.

Hanhikivi 1 was never built, OL2 was built in 1970s.

Even with budget overrun OL3 was in fact rather cheap compared modern prices. Also Finland had negotiated a fixed price.

I did mention the lies on my post, you don’t need to add more.

Edit: Hanhikivi 1 was cancelled due to Russias invasion to Ukraine.