GE Hitachi, Fluor to expand collaboration on reactor project in Finland

Helsinki, November 10, 2011 — With Finnish utility Teollisuuden Voima Oyj looking to build a fourth nuclear reactor, GE Hitachi Nuclear Energy announced it has signed a project development memorandum of understanding with Fluor Corp.

Under the terms of the MOU, Fluor would serve as GEH‘s engineering, procurement and construction partner if TVO selects GEH’s next-generation reactor technology for the Olkiluoto-4 project.

GEH is a leading designer of advanced boiling water reactor technology and services worldwide while Fluor is a leading engineering and construction company that has provided the global nuclear industry with design and construction support for 23 reactors. In September 2011, GEH and Fluor announced a similar project development MOU for potential reactor projects in Poland.

TVO is evaluating several different reactor technologies for the Olkiluoto-4 project, including GEH’s Generation III+ Economic Simplified Boiling Water Reactor design. In July 2010, Finland’s parliament ratified “Decisions in Principle” for two reactor projects — including TVO’s plan to build the fourth reactor at Olkiluoto.

GEH’s ESBWR, a reactor that uses natural circulation and passive safety technology, is the world’s safest available reactor design as measured by industry standards.

To meet TVO’s project expectations and provide the most competitive bid for an ESBWR project, GEH turned to Fluor, a longtime energy industry partner.

Under the MOU, GEH and Fluor will jointly bid on the Olkiluoto-4 project, offering a complete and competitive solution for TVO.

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