Summary
Fortum, Finland’s largest power utility, is transitioning to nuclear fuel sourced from the U.S. as part of its strategy to reduce reliance on Russian supplies amidst ongoing geopolitical tensions. This shift comes in response to security concerns following Russia’s invasion of Ukraine and increasing cyber threats faced by the company.
In recent years, Fortum has faced significant challenges, including daily cyberattack attempts and suspicious drone activity near its energy assets. These incidents have prompted the company to seek new fuel sources, leading to its recent procurement of nuclear fuel from Westinghouse Electric, a U.S.-based company. Historically, Fortum’s Loviisa power plant relied on nuclear fuel from TVEL, a subsidiary of Russia’s Rosatom. The new fuel arrangement aims to enhance energy security and sustainability, as Fortum’s reactors contribute approximately 10% to Finland’s total power production. The company has emphasized its commitment to carbon dioxide-free electricity generation, with 98% of its output being environmentally friendly.
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