Finnish Fennovoima terminates supply agreement with Russian company Rosatom for the Hanhikivi 1 nuclear power plant in Pyhäjoki in northern Ostrobothnia, Finland.
The reason given is significant delays and the inability of Rosatom’s Finnish subsidiary Raos Project to carry out the project. In addition, the Russians’ war of aggression against Ukraine has further increased the risks, according to Fennovoima.
“Unfortunately, the termination of the agreement will have significant consequences for Fennovoima’s employees. In addition, the consequences are also expected to affect all players in the supply chain and the Pyhäjoki area,” writes Fennovoima’s CEO Joachim Specht in a press release.
He also writes that it will be necessary to reduce the workforce significantly until the turn of the year.
The termination means that the cooperation is terminated with immediate effect.
It was already in February that the Prime Minister of Finland, Sanna Marin, announced that Finland would review the security risks of having Rosatom build the nuclear power plant in the country.
Lintilä: “Satisfied with the owners’ decisions”
Finland’s Minister of Trade and Energy Mika Lintilä writes on Twitter that Fennovoima’s decision is clear.
“We must be satisfied with the owners’ decision. It would have been practically impossible to proceed with the project. At the ministry, we evaluate what the decision has consequences from the authority’s point of view,” he writes.
The reactor was scheduled to be commissioned in 2029, but construction was already just over ten years behind its original timetable.
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