Reuters on Tuesday reported that Russian state-owned firm Rosatom has begun legal proceedings seeking $3 billion in damages from Finland’s Fennovoima consortium for pulling the plug on a nuclear power plant in Finland.
Prior to Russia’s invasion of Ukraine, Finland was to grant final building permits for the project this year. The cancelled project, the Hanhikivi 1 plant in Pyhäjoki, Northern Ostrobothnia, was to have been Finland’s third nuclear power plant, and its first entirely new one since the 1970s.
In May, Fennovima terminated its contract with Rosatom to build a nuclear power plant on Finland’s west coast. The company cited significant delays and Rosatom’s “inability to deliver the project”, and added that the war in Ukraine had further exacerbated the risks of the project.
Rosatom holds a 34 percent stake in the Fennovoima consortium through its Finnish subsidiary RAOS Voima.
Fennovoima has meanwhile initiated (siirryt toiseen palveluun) several arbitrations and other proceedings against various Rosatom entities, with claims amounting close to two billion euros.
In June, Fennovoima said it was laying off 350 workers.
Comments are closed, but trackbacks and pingbacks are open.