Finnish company files lawsuits against Rosatom

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Finnish company files lawsuits against Rosatom

The Raos Project, the Finnish subsidiary of Rosatom, stated to Helsingin Sanomat that the details of the lawsuits are confidential and that no further details will be provided.

Fennovoima launched arbitration proceedings against various entities of Rosatom on Saturday. Joachim Specht, CEO of Helsingin Sanomat, said that the Finnish nuclear energy company has filed demands for damages worth more than two billion euros, including the reimbursement of an 800 million-euro down payment it made to Raos Project.

Fennovoima ended its supplier contract with Rosatom in April, two months after the Russian invasion of Ukraine. The contract was terminated on the basis of problems and recurring delays rather than the invasion, and its executives stated that the invasion had increased the project risks.

The building permit application for the power plant, which was to be called Hanhikivi 1, was withdrew on May 24. The power plant was originally scheduled to be commissioned in 2024, but the latest estimates indicated that the project would be completed in 2029.

Rosatom was brought into the project as a plant supplier in place of Germany's E-On in December 2013, with the company agreeing to take a 34 per cent stake in Fennovoima through the Raos Project.