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Finnish consortium scraps nuclear plant deal with Russia’s Rosatom
- 2 years ago (2022-05-03)
- David Flin
Finnish consortium Fennovoima has terminated a contract with Russian group Rosatom to build the 1200 MW Hanhikivi 1 nuclear power plant in northern Finland. Fennovoima cited risks to the project linked to the Russian invasion of Ukraine. Esa Harmala, Chairman of the Board of Fennovoima, said: “The contract has been cancelled due to delays and the inability to deliver, and we have seen that the war has increased these risks.”
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Rosatom said that it couldn’t understand the decision and that it might take the matter to court.
The Hanhikivi project, in which Rosatom holds a 34 per cent stake, was due to be built in Pyhajoki, about 100 km from Oulu in northern Finland. The project had been delayed several times and the construction permit not yet been granted.
Construction was due to have begun in 2023 and electricity production in 2029. Fennovoima said issues with delivery had been evident years before Russia’s invasion of Ukraine, and that the contract was not terminated solely because of the war. It is not yet known if Fennovoima will scrap plans for the plant or seek a new partner to replace Rosatom.