Finnish power company Helen has created a separate company called Helen Ydinvoima Oy to lead the development of its small modular reactor (SMR) programme.

The new company will begin operations at the beginning of February and will aim to investigate what it will take to build nuclear power for the city of Helsinki and to prepare for an investment decision.

Helen, which began its nuclear project in 2024, is holding a competitive bidding process for plant suppliers, while also exploring business and partnership models. This includes looking at collaboration with industry and other energy companies.