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Mercury Expands New Zealand Geothermal Platform With Billion Dollar Investment

Mercury’s $1 Billion Geothermal Expansion Signals a New Era for New Zealand’s Renewable Energy Future By: Robert Buluma   Mercury Doubles Down on Geothermal Power New Zealand’s renewable energy transition has entered a bold new chapter after Mercury announced plans to significantly scale its geothermal platform with a potential investment of up to $1 billion. The announcement marks one of the country’s most ambitious geothermal expansion strategies in recent years and reinforces geothermal energy’s growing role as a reliable, baseload renewable power source capable of supporting future electricity demand. Mercury revealed that it will immediately commit NZ$75 million toward geothermal appraisal drilling at two major projects located near Taupō — Ngā Tamariki and Rotokawa. These developments could collectively generate an additional 1 terawatt-hour (TWh) of electricity annually, enough to power approximately 125,000 more homes across New Zealand. The projects are expected to t...
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"Fortum seeks to extend operating license of Finland's oldest nuclear power plant until 2050"



Units 1 and 2 of the Loviisa plant (Image: Fortum)

The Loviisa power plant, boasting two state-of-the-art VVER-440 type pressurized water reactors, was the inaugural nuclear power facility in Finland and continues to furnish over 10% of the nation's electricity. Unit 1 of Loviisa commenced commercial operations in 1977, with unit 2 following suit in 1981. These units' operating licenses were renewed in 1998 and 2007 respectively. Fortum, the company operating the facility, submitted an application to TEM in March 2022 to extend the operating licenses of both units until 2050.


The Finnish government is currently assessing Fortum's application, soliciting statements from various authorities, organizations, and municipalities in the affected region and providing citizens with an opportunity to voice their opinions. The government will make its decision on the operating license based on these statements.


STUK, the regulatory body overseeing the facility, stated that Fortum has "demonstrated that it is able to continue operating both units of the Loviisa nuclear power plant safely even after the expiry of the current license period." The regulator added that the company has the "required capabilities, procedures, competence, and resources to continue safe operations and aging management." STUK also stated that Fortum has "demonstrated in its application and in its safety assessment that it is possible to continue the final disposal safely within the current scope."


Sasu Valkamo, Vice President of the Loviisa plant, remarked that "as a result of the Loviisa power plant's continuous improvement of safety and aging management, the power plant is in good condition and the lifetime extension is possible." Fortum has implemented several modernizations and renovations throughout the facility's history. The company also highlighted that STUK continuously monitors the implementation of its safety improvement measures. The Loviisa plant's periodic safety review is conducted every ten years in accordance with Finland's Nuclear Energy Act, with the next safety assessment to be submitted to STUK in 2030. The safety of the final disposal facility is assessed every 15 years in accordance with the Nuclear Safety Act.

Source:(Worldnuclearnews)


#Finland #Builtforinfinity #Licensing #Regulation # Operation&Maintenance

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