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Teollisuuden Voima News

25 Oct 2014

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO), TVO said late on Friday. TVO and Areva have traded accusations about who is to blame for delays and extra costs, and the International Chamber of Commerce's (ICC) arbitration court is processing a dispute on cost overruns between the two sides. Areva-Siemens in September said the start date of the reactor, which is planned to be Finland's fifth and biggest nuclear unit, will be pushed back to late 2018 - almost a decade later than originally planned. TVO on Friday said Areva-Siemens raised its claim against it to 3.5 billion euros ($4.4 billion) from the previous 2.6 billion euros at the ICC arbitration.

06 Jul 2010

Maersk Tankers, HHI & DNV Joint CO2 Ship Design

Maersk Tankers, Hyundai Heavy Industries (HHI) and Det Norske Veritas (DNV) have agreed to collaborate on the design and risk assessment of tankers for shipping CO2. Maersk Tankers is already in a partnership with Maersk Oil and Finnish utilities Fortum and Teollisuuden Voima (TVO), aimed at developing a joint carbon emissions abatement project in the area of Carbon Capture and Storage (CCS). “Shipping CO2 in tanker vessels is a cost effective and flexible way to get CO2 from power plants to offshore storage sites, which makes it a suitable solution for large CO2 emission sources such as coal-fired power plants, especially in the emerging phase of CCS.” says Anders Schulze, Head of CO2 Shipping in Maersk Tankers.