Fortum and European partners agree with Framatome on nuclear fuel development

Fortum has entered into an agreement with French company Framatome to develop a new European nuclear fuel for VVER-type nuclear power plants. The accord also includes ČEZ from the Czech Republic, MVM Paks from Hungary, and Slovenské Elektrárne from Slovakia.

The collaboration aims to diversify the companies' fuel supply and reduce Europe's dependence on imported energy. The project will progress in phases, with potential regular fuel deliveries anticipated in the early 2030s. The initiative is based on a fully European design and supply chain, utilizing Framatome's fabrication plants in France and Germany.

"Energy supply security is a strategic priority for us at Fortum. Diversifying the entire nuclear fuel value chain strengthens our ability to supply electricity reliably to our customers," stated Petra Lundström, Executive Vice President responsible for Fortum’s nuclear operations.

This marks Fortum's second project to diversify fuel supply for its Loviisa nuclear power plant, following a previous agreement with Westinghouse Electric Company. The EU operates 19 VVER-type reactors, which are significant contributors to the bloc's low-carbon electricity generation.