Helen Plans Up to €5 Billion Investment in Small Modular Reactors in Helsinki
The Finnish utility Helen is planning an investment of between €1 billion and €5 billion for Small Modular Reactor capacity aimed at heat production and cogeneration with electricity in Helsinki. The investment range depends on the final configuration, with lower costs for heat-only production and higher for cogeneration. This plan emerges as Helen looks to reduce emissions after closing its last coal plant by 2025, addressing the growing energy demand in the capital area due to electrification and clean tech developments.
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Helen, the Finnish utility, is set to invest between €1 billion and €5 billion in Small Modular Reactor (SMR) capacity for heat and cogeneration in Helsinki. The investment amount will vary based on whether the focus is solely on heat production or includes electricity generation.
This initiative reflects a significant shift from theoretical discussions to practical application in urban energy planning. Following the closure of Finland's last coal power plant in 2025, Helen views nuclear energy as a means to enhance capacity and reduce emissions amid rising energy demands driven by electrification and clean tech. Helen is currently in the urban planning phase and aims to select a site by the end of 2027, indicating a move beyond mere strategic exploration.
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