October 5, 2012 / 5:03 AM / 8 years ago

Fennovoima may pick Toshiba reactor over Areva's -report

HELSINKI (Reuters) - Finnish nuclear consortium Fennovoima may choose Japan’s Toshiba (6502.T) reactor over Areva’s AREVA.PA for its nuclear plant in northern Finland as Toshiba’s cooling system is better, daily Helsingin Sanomat reported on Friday.

Fennovoima has received offers from the two companies and it is due to decide next year who will deliver the reactor to its Pyhajoki plant.

“Both power plants have a completely electricity free cooling system, but Toshiba has implemented it slightly better,” Juhani Hyvarinen, Fennovoima’s nuclear engineering chief, told the paper.

One of the lessons of the Fukushima disaster was that two natural disasters could strike at the same time and knock out the electrical supply system of a plant completely, so it could not be cooled down.

The European Union energy commissioner urged on Thursday regulators and operators to act now to improve safety at nuclear power plants.

Fennovoima’s plant is due to provide cheap energy to its shareholders including stainless steel maker Outokumpu (OUT1V.HE), retailer Kesko KESBV.HE and the local subsidiaries of Swedish metals firm Boliden (BOL.ST).

Its biggest single shareholder is German utility E.ON’s (EONGn.DE) Finnish subsidiary with a 34 percent stake.

Reporting by Terhi Kinnunen; editing by Miral Fahmy

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