Finland Rejects TVO's Nuclear Permit Extension

Finland's economy minister on Monday recommended the government reject utility Teollisuuden Voima's (TVO) application for an extension to its licence to build the Olkiluoto 4 nuclear reactor but backed a nuclear project by Fennovoima.

TVO in May requested a 5-year extension to its general permit due to delays of its existing project Olkiluoto 3.

Economy Minister Jan Vapaavuori told a news conference he recommended the government approve Fennovoima's general plan to build a reactor partly owned by Russia's Rosatom, but said the consortium should boost Finnish ownership from around 50 percent to 60 percent before it is granted a construction permit. (Reporting by Jussi Rosendahl