This prompted Finland’s Green Party to quit the cabinet. The party had earlier threatened that it would quit the cabinet if the company was given the approval for the project.
However, the approval for the 1,200MW plant is yet to be passed by the country’s Parliament.
The company is likely to get approval for the project in the Parliament as the four main parties already support the project.
Finland had given permission to Fennovoima for the construction of the nuclear power plant in 2010. However, due to changes in the size of the reactor and its supplier, the company had sought for fresh approvals, reports RT.
In the Finnish government’s website, the statement reads, "On 18 September 2014 the Government gave a positive decision-in-principle on an application by Fennovoima Oy to build a Rosatom nuclear reactor unit in Pyhäjoki.
"In the spring of 2014 the company delivered an application to the Ministry of Employment and the Economy to supplement a decision-in-principle that it received in 2010 . . . The Government felt that in accordance with the Nuclear Energy Act, Fennovoima’s project remains in the overall good of society," the statement reads.
The Fennovoima is owned by Russia’s national nuclear corporation Rosatom, which has 34% stake, and a consortium of 40 other companies under the name of Voimaosakeyhtio, which holds 66% stake.
Finnish government had said that its ownership should be about 60% in the project.
The cost of the nuclear project is currently estimated to be between €4bn and €6bn.
The nuclear power plant is expected to begin power generation in 2024.
Image:Finland also operates Olkiluoto nuclear power plant. Photo: courtesy of kallerna.
