Fennovoima has ended the engineering, procurement, and construction (EPC) contract with RAOS Project, an affiliate of the Russian state-owned nuclear company Rosatom, for the Hanhikivi 1 nuclear power plant to be built in Pyhäjoki (northern Finland). The Finnish consortium explained its decision by citing RAOS Project's significant delays during the last years and inability to deliver the project, and the war in Ukraine that has worsened the risks for the project, with Rosatom being unable to mitigate any of the risks. Consequently, Fennovoima has terminated its cooperation with RAOS Project with immediate effect and both the design and licensing work and works at the Hanhikivi 1 site with RAOS project end.
The Hanhikivi 1 project would consist of a 1.2 GW AES-2006 reactor supplied by Rosatom. It received government and parliamentary approval in 2010, and Fennovoima submitted the construction license application to the Finnish Ministry of Economic Affairs and Employment in 2015. Fennovoima is a joint-venture between Voimaosakeyhtiö (66%), a group of Finnish industrial and electricity generation companies (most of which are state-owned), and RAOS Project (33%).
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