Helen had already planned to build a nuclear power plant in Helsinki, with the idea first being discussed several years ago. Now, the company has developed a concrete action plan, signaling its serious commitment to constructing a nuclear power plant for electricity production.

The company has already hired a team of experts in nuclear energy and accelerated its plans for the plant. Previously, Sirkka mentioned that the plant could be operational in the second half of the 2030s, but now an even more ambitious target has been set, reported Helsingin Sanomat.

"I believe that a nuclear power plant will be built in Helsinki before 2035," said Sirkka.

According to Sirkka, all potential locations for the nuclear plant in Helsinki are currently being mapped out. Afterward, a decision on the builder of the plant will be made, which could happen by the end of 2026. The company is considering all firms involved in constructing small nuclear plants.

Helen's strategy assumes the creation of a nuclear power plant because the company aims to reduce emissions. Initially, the plan was to stop using coal and replace it with bioenergy. However, it soon became clear that this would not be sufficient, and the company now also intends to phase out burning wood.

Demand for electricity is growing in the city, with plans for hydrogen production and heat pumps that also use electricity. Helen is making significant investments in renewable energy, building solar power plants and wind farms. The company aims to diversify its production and take advantage of the large fluctuations in electricity prices in the future.

Electricity generation in Finland has an effect on prices in Estonia as the countries' electricity markets are connected through the Nord Pool exchange.

Finland's Olkiluoto 2 reactor goes offline after a fault

Electricity production was halted in the second reactor of the Olkiluoto Nuclear Power Plant Monday due to humidity levels in one of the generators exceeding the permitted limit.

It is not yet known how long the reactor will remain out of operation. The second reactor of the nuclear power plant also shut down a year ago, and at that time, it was offline for 17 days.

The three reactors at the Olkiluoto nuclear power plant provide about 30 percent of Finland's electricity needs.

Work disruptions have also previously affected Olkiluoto's third reactor. According to Teollisuuden Voima (TVO), the operator of the Olkiluoto plant, the newest reactor – Olkiluoto 3 – meets about 14 percent of Finland's electricity demand, with a capacity of 1,600 megawatts.

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