February 26, 2014 / 7:27 AM / 6 years ago

Russia's Rosatom wants to increase stake in Fennovoima

MOSCOW, Feb 26 (Reuters) - Russian state nuclear export monopoly Rosatom wants to increase its stake in Finnish consortium Fennovoima to 49 percent from 34 percent, a move that could ease concerns over the viability of the 6 billion euro ($8 billion) plan for a new nuclear reactor.

“We are ready to increase our stake, but we have not received any offers yet,” Rosatom CEO Sergei Kirienko was cited as saying by his spokesman.

However, spokesman Sergei Novikov added that priority was currently being given to Finnish companies for purchases of more shares in Fennovoima.

Russia and Finland on Tuesday signed an agreement to cooperate in the nuclear sphere.

Fennovoima’s planned reactor, Finland’s sixth, is aimed at securing cheaper energy for investors including Finnish industrial firms and municipal utilities.

But a weak economy and low energy prices have forced some investors to reconsider their participation.

$1 = 0.7282 euros Reporting by Svetlana Burmistrova; Editing by Alissa de Carbonnel and Mark Potter

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