London, Jan 3 – RWE, the German power group, is reported to be planning a new electricity interconnection between Finland and Russia, according to a report due to be published this week in the Financial Times Deutschland.

“We conducted talks with the Russian side at the start of December,” RWE Trading spokesman Ralf Schaefer said in an article to be published on Thursday.

Discussion have taken place between RWE, the Russian Atomic Energy ministry and utility RAO with the scale of the investment being in the region of €120m, according to the report.

The intention would be to link the Kola nuclear power plant in northwestern Russia with Finland’s Pirttikowski transfer station.

Finland is anticipating a power shortage in the coming years as demand increases and may expand its own nuclear production in an attempt to avoid reliance in imported hydropower.