Finland has submitted an amended Nuclear Energy Act which aims to streamline the licensing process for nuclear plants, manage project risks and spur the use of new technology including small modular reactors (SMRs).

The 550-page amended bill would come into force by 1 January 2027, although the Finnish government said that operators could submit projects for approval this year under the revised rules.

The government said that the amended bill aimed to strengthen Finland’s position as an attractive investment destination for nuclear energy and as a location for construction of new plants.

Under the new act, the licensing system would be simplified, especially in the early stages of a project, to manage risks better. A first assessment of a project “for the benefit of society” would be made as a decision in principle, which the government said would be more general than at present.