Fennovoima terminates agreement with Rosatom – Work at Hanhikivi nuclear power plant site ends – Finance

According to Fennovoima, the supplier’s significant delays have continued and increased in recent years.

Fennovoima says that it has terminated the Hanhikivi 1 nuclear power plant plant supply contract with Rosatom due to significant delays and the inability of Rosatom’s subsidiary RAOS Project to implement the Hanhikivi 1 project.

In recent years, the supplier’s significant delays have continued and increased, Fennovoima says. According to Fennovoima, the war in Ukraine has exacerbated the project’s risks, which the RAOS Project has not been able to prevent.

In practice, the termination of the plant supply agreement means that the cooperation with the RAOS Project has ended with immediate effects. Both the design and licensing work and the work on the Hanhikivi 1 site with the RAOS Project will be completed, Fennovoima says in a press release.

“Unfortunately, the termination of the plant delivery is expected to have a significant impact on Fennovoima’s employees. The impacts are also expected to affect all actors in the supply chain and the Pyhäjoki area. Our main goal is to support our staff by keeping them up to date and working closely with our staff and trustees. In addition, we maintain the construction site, ”says Fennovoima’s CEO Joachim Specht bulletin.

“The closure of the plant delivery with RAOS Project has not been done on light grounds. There are significant and multifaceted aspects to a project of this magnitude, and decisions about the project are always made with careful consideration. We fully understand the implications of the decision and will do our best to manage it, ”says Fennovoima’s Chairman of the Board Esa Härmälä commented on the press release.

By Editor

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