Finland is pleased with Fennovoima’s decision to terminate its contract with Rosatom

Justified and consistent actions related to the termination of the contract for the construction of a nuclear power plant in Finland by Russia’s Rosatom, the Finnish Ministry of Employment and the Economy.

The Hanhikivi 1 nuclear power plant construction project was Russia’s largest investment project in Finland.

“The Ministry of Economy and Employment considers the owners’ actions regarding the contract to supply the plant as justified and consistent. Termination of the contract is an understandable measure in this situation,” the ministry said in a statement, specifying that the agency will soon study and assess the consequences of the contract termination.

Finnish Economy Minister Mika Lintilä is also pleased with Fennovoima’s decision.

“I am quite pleased that the owners have taken a clear stance on the whole project. And it will put an end to this,” Lintilä said in an interview with the public broadcaster YLE.

The minister was informed of Fennovoima’s decision last Friday, when the company held an extraordinary shareholder meeting, the broadcaster reported.

Fennovoima justified its decision to the minister primarily with delays from the Russian side and the inability to build the Hanhikivi nuclear power plant.

The project has been seriously delayed because the original schedule was to start up the nuclear power plant in 2018, but in June 2018 the completion date was pushed back to 2024.

“Stopping the project is an understandable measure in this situation. There have been significant delays and very serious questions about functionality throughout the construction process,” Lintilja notes.

Earlier in March, Lintilä told parliament that it was “completely impossible” for Rosatom to issue a construction permit for the nuclear power plant.

The premise was the news that Rosatom had taken control of a nuclear power plant in Ukraine.

“My own position has more to do with the war in Ukraine and the actions that Russia has taken. It violated all international agreements by taking over another country’s nuclear power plant. I consider it completely impossible to issue a license in such a situation,” the minister said.

Today, Lintilä went to Brussels for a crisis meeting of energy ministers, where, according to him, among other things, the Fennovoima decision will be discussed.