Nuclear energy sector in transition – now is the time to invest in RDI

Nuclear power accounts for around 40% of Finland’s electricity production. Its key advantages are reliable baseload generation and stable pricing. Compared with many other countries, Finland is at the forefront of reforming its nuclear energy legislation. The comprehensive reform of the Nuclear Energy Act is expected to be completed in 2027. Similar reforms are being planned in Sweden, while comparable legislation has already been implemented in the United Kingdom.

The reform will streamline and harmonize the regulatory framework for small modular reactors (SMRs). As a result, reactor construction timelines are expected to shorten, increasing the need for nuclear-grade components. The supply of such components will also expand for larger reactors, creating significant growth opportunities for the industry.

Finland’s nuclear energy sector has strong expertise and experimental research capabilities, for example in nuclear safety, as well as significant engineering and manufacturing know-how. The nuclear industry is entering a growth phase, and investing in expertise will strengthen companies’ competitiveness – making this the right time to invest in research, development and innovation (RDI). Business Finland encourages companies to launch new RDI projects and offers funding and expert support to help develop them.

Business Finland is co-organizing a Nuclear Energy Day together with Westinghouse, Hyundai and FinNuclear in Ruoholahti on 10–11 March. The event provides an opportunity for networking and for participants to learn more about key technologies and ongoing projects in the sector