Rosatom and Finnish partner in dispute for damages for nuclear project
HELSINKI - Russia's Rosatom and its Finnish partner Fennovoima have filed claims for billions of dollars in damages from each other over Fennovoima's decision to cancel a planned nuclear power plant in Finland, the companies said.
The Fennovoima consortium, in which Russia's State-owned Rosatom has a 34% minority holding, in May terminated a contract for Rosatom to build a nuclear power plant in the cape of Hanhikivi in northwest Finland, citing delays and then increased risks resulting from the war in Ukraine.
"To date, six lawsuits have been filed by the state corporation for a total of $3-billion," Rosatom said on its Telegram account late on Monday, adding that specifics of the proceedings were confidential.
Fennovoima said it had initiated several proceedings against various Rosatom entities, with claims reaching almost two-billion euros, "to claim compensation for damages arising out of the delays and inability to deliver the project".
"There are indications that Rosatom entities will have counterclaims against Fennovoima. So far, no arbitration proceedings have been initiated against Fennovoima as a consequence of the termination...," the consortium said in a statement on Saturday.
The company was not immediately available when asked by Reuters if it was aware of Rosatom's proceedings against it.
The Hanhikivi project was commissioned by Fennovoima, a consortium in which Finnish stakeholders including Outokumpu, Fortum and SSAB own two thirds. Rosatom's subsidiary RAOS Voima holds the rest.
After Russia invaded Ukraine in February, the Finnish government said it would not grant a construction permit for the plant because it considered the project no longer viable.
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