Rosatom Says It Wins Tribunal Ruling in Finnish Nuclear Plant Dispute
Rosatom said the tribunal found Fennovoima unlawfully ended the 7-billion-euro project after it said the plant was still making good progress.
- On Saturday, the International Chamber of Commerce tribunal ruled in favor of Rosatom, finding that Fennovoima unlawfully terminated the Hanhikivi-1 nuclear power project contract in 2022.
- Fennovoima scrapped the 7 billion euro project in May 2022, citing significant delays and political risks after Russia launched its conflict in Ukraine.
- The 1.2 gigawatt plant, signed in 2013, involved Finnish stakeholders Fortum, Outokumpu, and SSAB; Rosatom claimed the tribunal found the project was making good progress when terminated.
- "Today's victory is important, but not final," Rosatom Director General Alexey Likhachev said, adding the company will continue proving its position in courts of various instances.
- Fennovoima wound down operations after the termination and remains primarily engaged in legal proceedings, though the company did not immediately respond to comment on the tribunal's ruling.
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HS asked Fennovoima for a comment on the claim on Saturday, but has not received a response. Fennovoima abandoned the Hanhikivi 1 nuclear power plant project planned for Pyhäjoki in May 2022.
The dispute between Rosatom and Fennovoima concerns the construction of the Hanhikivi nuclear power plant.
The Moscow Times
Rosatom Says it Wins Tribunal Ruling in Finnish Nuclear Plant Dispute
Russia's state nuclear corporation Rosatom said on Saturday that an International Chamber of Commerce (ICC) tribunal had ruled in its favour in a long-running dispute with Finnish utility Fennovoima over the cancelled Hanhikivi-1 nuclear power project.
The multi-year litigation between the Russian State Corporation of Rosat and the Finnish company Fenvoima ended with the victory of the Russian side.
Rosatom says it wins tribunal ruling in Finnish nuclear plant dispute ...
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