Clean Break: the company completely halting Russian engagements or exiting Russia

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Fennovoima Ltd is a nuclear power company established by Russian state's nuclear company Rosatom and a consortium of Finnish state-owned power and industrial companies. The company does not own any nuclear capacities; however, it is preparing to build the 1200 MW Hanhikivi 1 nuclear power plant at Pyhäjoki.

Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal
The Company Statement
February 26, 2024

Terminate Russian nuclear power plant project. In May 2022, Finnish Fennovoima terminated the contract, citing “significant delays” on the part of Rosatom, as well as the conflict in Ukraine. Rosatom believes that Finland had no grounds for such a decision. In the same year, Fennovoima demanded €1.7 billion from the Russian side, Rosatom filed counterclaims for €3 billion, and also demanded the return of a loan of €920.5 million. The first stage of hearings on the claims was held at the Arbitration Court in Paris. Rosatom" to the Finnish Fennovoima, which abandoned the joint project of the Hanhikivi NPP. The court found Finland's actions "unfounded and politically motivated".

April 10, 2023Rosatom demands from Finland to repay a loan of €920.5 million after the termination of the contract for nuclear power plants
December 15, 2022Fennovoima comments on Rosatom statement regarding dispute review board recommendation
August 20, 2022Fennovoima claims damages from Rosatom
May 02, 2022Fennovoima has terminated the contract for the delivery of the Hanhikivi 1 nuclear power plant with Rosatom
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