Finland’s nuclear operator Fortum is to carry out a “thorough investigation” into the financial viability of building new nuclear power stations in Finland and Sweden.

The report, to be completed next year, will focus on the technical, economic and social conditions that must exist in order for Fortum to consider such a new, large and long-term investment, Fortum chief executive officer Markus Rauramo said.

Rauramo made his comments as Fortum announced that the Finland government had granted a new operating licence until the end of 2050 for Fortum’s two-unit Loviisa nuclear power plant.

The new licence means Loviisa-1, which began commercial operation in 1977, could potentially operate for 73 years and Loviisa-2, which began commercial operation in 1981, for 69 years.