Olkiluoto 3 (Areva's First Plant)
The construction of the Olkiluoto 3 power plant in Finland commenced in August 2005. It was initially scheduled to go online in 2009, but the project has suffered many delays, and operation is now expected to start in 2014. It is still expected to be the first EPR reactor built in the world. The construction is a joint effort of French Areva and German Siemens AG through their common subsidiary Areva NP, for Finnish operator TVO. Initial cost estimates were about € 3.7 billion, but there were additional cost overruns of € 2.7 billion at June 2010. The plant will have an electrical power output of 1600 MWe (net).
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