A group of Finnish companies founded Voimaosakeyhtiö SF in 2007. Same year Fennovoima’s nuclear power plant project was started. In 2011 Fennovoima decided that its nuclear power plant will be built to Pyhäjoki. Voimaosakeyhtiö SF operates like a co-operative. All shareholders will get the electricity generated by Fennovoima’s future nuclear power plant at cost price in proportion to their ownership. Fennovoima supports Finland’s competitiveness and the operations of its own companies. The project increases Finland’s self-sufficiency in electricity generation and strengthens the security of supply. According to the agreed schedule, the power plant will generate electricity for its owners at cost price starting from 2024. The power plant will employ directly thousands of people during the construction period and generates durable demand for various services in Finland and especially in Northern Ostrobothnia.
Year Established: 2007