EON Exit From Finnish Nuclear Reactor May Trigger Failure
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EON AG’s plan to pull out of a joint venture that’s building a nuclear reactor in Finland increases the risk that the project may fail, thwarting the government’s plans to cut reliance on energy imports.
EON, Germany’s biggest utility, is seeking to sell its 34 percent stake in Fennovoima Oy by the first quarter and focus on operations in Sweden and Denmark, it said on Oct. 24. Fennovoima is preparing to start construction on the reactor, with a capacity of 1,600 to 1,800 megawatts, at Pyhaejoki in northern Finland in late 2016.