Kiriyenko could not give any exact construction dates, but said that the start of construction works “will depend on when “Rusalom” and “Sualom”, Russian aluminium manufacturers, are going to sign the contract.” According to Kiriyenko, Rosatom plans to build two new medium-power reactors. “We have to consider that the operation of the Kola NPP will soon come to an end and the only country able to export electricity is Finland,” he said.

Kiriyenko further said that Rosatom will soon publish a detailed business plan, including construction costs of the new NPP and information on whether or not the project will be partly financed with private capital.

The Kola NPP is situated not far from the town of Polyarnye Zory, at the Lake Imandra in the Murmansk region. Between 1973 and 1984 four reactors were launched at the site. The NPP produces 5,500 MW of heat, which is equal to an electricity power capacity of 1760 MW.

Electricity of the Kola NPP is fed into the energy systems of the electricity companies Kolenergo in the Murmansk region and Karelenergo in the Republic of Karelia.

The Kola NPP makes up for about 60% of the power production in the Murmansk region. About 30% of the economically active population works at the site. The town of Polyarnye Zory has a working population of about 86,000, reported the Russian news agency Rosbalt-Sever.