Finnish Fennovoima demands about €2 billion from Rosatom for the failure of the Hanhikivi-1 nuclear power plant project
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The Finnish energy company Fennovoima has filed a lawsuit against Rosatom due to the disruption of the Hanhikivi-1 nuclear power plant project. This was announced by the CEO of the Finnish company Joachim Specht in an interview with Helsingin Sanomat. The company demands to recover €2 billion from Rosatom.
The amount that Fennovoima wants to recover from Rosatom includes an advance payment of €800 million in favor of the Finnish subsidiary of Rosatom, RAOS Project. According to the director of Fennovoima, Rosatom warned him at the beginning of 2022 about possible delays in the implementation of the project. In particular, construction could be postponed for several years ahead. The head of Fennovoima calls this one of the reasons why Finland refused to build a nuclear power plant.
Rosatom and Fennovoima signed a contract for the construction of Hanhikivi-1 at the end of 2013. The Russian state corporation owns 34%, another 66% belongs to Finnish shareholders. The cost of building the station is about €7–7.5 billion.
May 2 terminated contract with RAOS Project for the construction of the Hanhikivi-1 NPP. The company justified this decision with “significant delays on the part of the RAOS Project and its inability to implement the project,” as well as the conflict in Ukraine, which allegedly aggravated the situation. Rosatom believes that Fennovoima had no reason to terminate the contract for the construction of the station.
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