As you may remember from my earlier postings, nuclear is not my favorite energy technology. I have covered some of the problems at the Finnish Olkiluoto plant here, here, here and here.

French Areva, who is the supplier of this infamous construction site, is now showing the door to their long time CEO Anne Lauvergeon ("Atomic Anne"). Reasons for her discharge are many, but overspending 2,6 billion euros extra on the Olkiluoto project, and its delay by more than three years are certainly listed.

According to this article, Areva will need to sell another 12 nuclear plants to cover the costs from Olkiluoto, or else the French taxpayers will.

"AREVA’s Olkiluoto nuclear reactor a total financial disaster...

... The current Finnish nuclear experience echoes the industry’s long history. Backed by French government loan guarantees, Areva, the French government-owned nuclear energy company began construction in 2005 on what is supposed to be the world’s largest and safest nuclear plant at Olkiluoto, Finland.

Plagued by thousands of construction and design problems it is currently 2 to 3 billion dollars over budget and three to four years behind schedule.

“It’s a total disaster for Areva,” Schneider says. Areva will have to sell another 12 reactors to cover the cost overruns thus far or else French taxpayers will, he said.

 I don't know which is sadder, to be on the buyers side or the sellers side.