Belgian company Tractebel to become shareholder in Fermi Energia

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Location of currently active nuclear power plants in the Baltic Sea region. Source: ERR

The Belgian engineering company Tractebel has decided to make an investment in Fermi Energia and is about to become a shareholder in Fermi soon, Sandor Liive, chairman of the supervisory board of Fermi Enegia, said at a conference on nuclear energy on Tuesday.

Fermi Energia is an Estonian company that seeks to set up a small modular nuclear power plant in Estonia.

In January 2020, Fermi Energia entered into cooperation agreements with Tractebel and the Finnish energy company Fortum on exploring appropriate licensing models and conducting preliminary research on a small light-water reactor. 

Liive said at a press conference held in the framework of the conference that Fermi is planning to start raising money from investors also on the Funderbeam platform in the near future.

Fermi Energia is a company founded by Estonian nuclear scientists, energy experts and entrepreneurs at the beginning of 2019, with the aim of commissioning a new generation small modular reactor power plant in Estonia to ensure Estonia's energy security, meeting climate goals and developing the country's economy and science in high technology. 

The company has expressed interest in a site near the port of Kunda in Lääne-Viru County and is discussing options with Viru-Nigula municipality. A final site has not yet been chosen and several candidate sites are being discussed.

Candidate sites. Source: Fermi Energia

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Editor: Helen Wright

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