Finland - World Nuclear Outlook Report
Current operations
Finland has five operable nuclear reactors, three at Olkiluoto and two at Loviisa.
TVO's Olkiluoto 1&2 started up in 1978-80 and currently have a planned operating lifetime of 60 years, although TVO is considering extending operation further by at least ten years.
The two 890 MWe units have been uprated from their original net capacity of 660 MWe, and TVO intends to progressively uprate them further to around 970 MWe each.Continuation of energy production at the two units at Loviisa is planned until the end of 2050 at the latest, which would require operating lifetimes over 70 years. In September 2026, Fortum and Google announced a 22-year power purchase agreement covering up to 50% of Loviisa's output, phasing in from 2028 and running through the plant's licensed operating lifetime to 2050.
Table Fi.1 Nuclear capacity status (as of 31 December 2025)
| Operable reactors | Operable reactors net capacity (MWe) | Operable reactors gross capacity (MWe) | Reactors under construction | Reactors under construction gross capacity (MWe) | Carbon dioxide emissions avoided (cf. coal) (MtCO2) |
|---|---|---|---|---|---|
| 5 | 4369 | 4562 | 0 | - | 918 |
Nuclear policy and outlook
In March 2026 a study on the options, costs and electricity market impacts of promoting nuclear energy production was submitted to Finland's Ministry of Climate and the Environment, which had commissioned the report. The study concluded that the construction of an additional 2400 MWe of nuclear power capacity would reduce the annual average price of electricity by about EUR5–7 (USD5.8-8.1) per MWh in the years 2040–2060. Extending the operation of existing reactors would generate a significant net benefit, as it would lower electricity prices but would not require state aid.
Also in March 2026, the Finnish government submitted a proposal to parliament for a new Nuclear Energy Act, intended to enter into force on 1 January 2027. The legislation would create more flexible approval, licensing and reporting procedures, supporting the replication of plant designs and the use of different delivery models over a plant’s life-cycle. It would also facilitate the introduction of new nuclear technologies, including SMRs, and allow plants to be located closer to energy users, which would be beneficial – for example - for the installation of district heating systems.
Several studies and site assessments for new nuclear units in Finland are ongoing but these developments have not yet reached a stage where they would be reflected in Finland's 2050 capacity projection.
Amongst these is Fortum's signing of an early works agreement with GE Vernova Hitachi in June 2025 covering early project planning, site and design adaptation and licensing activities for potential BWRX‑300 deployment in Finland and Sweden. It was one of three such agreements Fortum signed with technology providers (the others being with EDF and Westinghouse in partnership with Hyundai Engineering & Construction). In January 2026 Fortum also made a €2.1 million investment in Steady Energy under a framework agreement giving Fortum exclusive rights to provide operation and maintenance services for LDR-50 plants in Finland and Sweden.Table Fi.2 Contributions to total capacity projection in 2050 (gross)
| 60 year operation (MWe) | 80 year operation (MWe) | Currently under construction capacity (MWe) | Planned capacity (MWe) | Proposed capacity (MWe) | Potential capacity (MWe) | Government capacity target (MWe) | Additional capacity* required to meet government target (MWe) | Total capacity (MWe) |
|---|---|---|---|---|---|---|---|---|
| 1660 | 2902 | - | - | - | - | - | - | 4562 |
| *Capacity additional to operable, under construction, planned, proposed and potential capacities required to meet the government target. | ||||||||
Readiness Assessment
The Finnish government is actively creating an enabling framework for future nuclear investment, including through the proposed Nuclear Energy Act. However, Finland has not adopted a numerical target for additional nuclear capacity or selected a national new build.
| Country Category | Expander |
|---|---|
| Policy Framework Readiness | Moderate The government is improving legislation, examining financing models and supporting SMR research, but has not committed to a specific new reactor. |
| Institutional & Infrastructure Readiness | High Finland has recent experience of the institutional requirements of new build. |
| Programme & Project Development | Moderate Finland is well situated for the further operating lifetime extensions and capacity uprates proposed. Fortum has completed a substantial feasibility programme and is conducting early works with three technology pathways, but no power reactor technology, site, financing structure or investment decision has been selected.. |
| Target Achievability | Moderate Finland has no quantified new nuclear capacity target. The qualitative objective of constructing additional nuclear capacity is credible, particularly from the late 2030s, but remains dependent on electricity demand and implementation of a viable risk sharing framework. |