Finland's lawmakers endorse building nuclear plant by Finnish-Russian consortium

HELSINKI – Finland has taken a major step toward approving the construction of a nuclear plant by Finnish-Russian consortium Fennovoima that would be the Nordic country’s sixth reactor.

In a 115-74 vote, lawmakers re-endorsed the project Friday. The 1,200 megawatt plant was originally approved by lawmakers in 2010 but fell through after it did not find enough local investors. Finland requires that domestic investors own at least 60 per cent of Fennovoima.

Currently, Russia’s Rosatom holds a 34-per cent stake.

Finland’s state-controlled utility Fortum has said it is ready to take up a 15 per cent stake. The government says it is confident it can find Finnish investors for the remaining 45 per cent.