The Russian Rosatom sues Finland for the failure of a nuclear power plant
ROSATOM, a Russian state-owned nuclear power and weapons company, has filed a lawsuit over the canceled nuclear project with Fennovoima in Pyhäjoki, Northern Ostrobothnia, YLE and Helsingin Sanomat reported.
Reuters reported Tuesday that Rosatom has initiated a total of six lawsuits against its partner, filing damages claims totaling approximately three billion euros. Raos Project, Rosatom's Finnish branch, told Helsingin Sanomat that the details of the lawsuits are confidential and that no further details will be provided.
Fennovoima on Saturday announced that it has initiated arbitration proceedings against several Rosatom entities. Chief Executive Officer Joachim Specht told Helsingin Sanomat that the Finnish nuclear power company has filed nearly two billion euros for damages, including the reimbursement of an advance of 800 million euros paid to the Raos project.
Fennovoima terminated the supply contract with Rosatom in April, about two months after the Russian invasion of Ukraine. Its executives said the contract was terminated due to recurring problems and delays, rather than the invasion, acknowledging that the invasion had increased the project's risks.
On May 24, the company withdrew the application for a building permit for the plant, which was supposed to be called Hanhikivi 1. The plant was due to be put into operation on May 24. The plant was initially supposed to be commissioned in 2024, but the latest estimates indicated that the project would be completed in 2029.
Rosatom was involved in the project as a supplier of the plant in place of Germany's E-On in December 2013, with the company agreeing to take a 34% stake in Fennovoima through Raos Project. Now, however, the Hanhikivi 1 nuclear power plant project is blocked and has not yet been redesigned.
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The article The Russian Rosatom sues Finland for the failure of a nuclear power plant comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-russa-rosatom-fa-causa-alla-finlandia-per-la-mancata-centrale-nucleare/ on Wed, 24 Aug 2022 20:41:54 +0000.