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SIEMENS AG

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Electricity production at Finland's long-delayed OL3 reactor pushed back

01/27/2022 | 03:26am EDT

HELSINKI, Jan 27 (Reuters) - Electricity production at Finland's much delayed Olkiluoto 3 nuclear reactor has been pushed back by a day to Feb. 1, operator Teollisuuden Voima (TVO) said in a statement late on Wednesday.

TVO has been pushing back the electricity production start date, once slated for Jan. 22, since an automatic trip shut down test production on Jan. 14.

Currently the reactor is estimated to operate at 25% of its total capacity when it is connected to the grid at the beginning of February, and reach total capacity of 1.6 gigawatts in June.

TVO's Olkiluoto 3, a joint venture of Finnish utility Fortum and a consortium of smaller energy and forestry companies, will be Finland's first new nuclear facility in four decades.

It was meant to be finished in 2009 but the project has been beset by technological setbacks that drove TVO and its partners, France's Areva and Germany's Siemens, into a lengthy legal battle https://www.reuters.com/article/us-tvo-areva-olkiluoto-settlement-idUSKCN1GN0R5 over compensation. (Reporting by Essi Lehto; Editing by Jan Harvey)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FORTUM OYJ 3.02% 17.725 Delayed Quote.-34.33%
SIEMENS AG 2.33% 115.08 Delayed Quote.-24.63%
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Financials
Sales 2022 68 780 M 72 560 M 72 560 M
Net income 2022 6 927 M 7 307 M 7 307 M
Net Debt 2022 36 514 M 38 521 M 38 521 M
P/E ratio 2022 13,9x
Yield 2022 3,57%
Capitalization 91 939 M 96 992 M 96 992 M
EV / Sales 2022 1,87x
EV / Sales 2023 1,72x
Nbr of Employees 303 000
Free-Float 88,4%
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Number of Analysts 24
Last Close Price 115,08 €
Average target price 166,33 €
Spread / Average Target 44,5%
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Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Head-Corporate Finance, Accounting & Controlling
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Bernhard Wardin Head-Technology & Innovation
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