Connection

popular articles

Emeren sells 42 MWp solar portfolio in Spain to CVE
Veolia strengthens its energy division with the acquisition of MRC Consultants
Cepsa and the EIB invest €285 million in biofuels in Andalusia
Enbridge launches 200MW wind power project in Saskatchewan
United Kingdom: TotalEnergies and SSE join forces for more charging stations

Fennovoima Oy dismissed by the Dispute Review Board

Fennovoima Oy has announced the termination of its contract with the Russian company Rosatom for the construction of a reactor in Hanhikivi.

Please share:

Fennovoima Oy has announced the termination of its contract with the Russian company Rosatom for the construction of a reactor in Hanhikivi.

The repercussions of the conflict

Fennovoima Oy, due to the war in Ukraine, announces the termination of the contract for the construction of Hanhikivi in Finalnde. The Dispute Review Board (DRB) confirms that this termination is illegal. In fact, Fennovoima Oy illegally rejects the work by RAOS Project Oy, a subsidiary of Rosatom.

The Dispute Review Board thus establishes the possibility for Rosatom to claim compensation from the Finnish company. According to Rosatom, this abusive breach of contract occurred at a time when the preparatory work for Hanhikivi was being finalized. Thus, in early 2022, Fennovoima Oy announced that the licensing work was reaching the “home stretch”.

These elements allowed the Dispute Review Board to find in favor of Rosatom. However, the Finnish government wanted to achieve rapid independence from Russian energy production. In this context of Russian-Ukrainian conflict, the Finnish Minister of Economic Affairs announced that he would not issue building permits.

A costly dispute

In May 2022, Fennovoima Oy terminated the contract for the construction of Hanhikivi, due to significant delays. The company also claimed that it was impossible for Rosatom to deliver the project in the context of the war in Ukraine. Rosatom is claiming $3 billion from Fennovoima Oy, which is claiming $2 billion from Rosatom.

The Hanhikivi plant was to have a capacity of 1200MW. Thus, it was to meet 10% of Finland’s energy demand. Finally, Fennovoima Oy announced the start of construction in 2023 and commercial operation in 2029.

The chosen plant model was the Rosatom AES-2006 pressurized water reactor. The other bidders for the project were Areva and Toshiba. On the other hand, Russia was exerting pressure to maintain the project by exploiting the investments of the Finnish Fortum in Russia.

Register free of charge for uninterrupted access.

Publicite

Latest news

France: The VALOREM and Banque des Territoires Partnership: An Ambitious Energy Platform for 2027
PG&E secures a $15 billion loan to modernize California’s energy grid
Toward a Reassessment of Oregon’s Hydropower Dams: A Model to Rethink
Record Capacity for Central-West Orana REZ: 7.7 GW Approved
A U.S. Steel Giant Orders Two PEM Electrolysers from Nel ASA for $7 Million

Recently published in

Orano initiates new arbitration against Niger over uranium

Faced with the loss of control over its Somaïr subsidiary and growing tensions with Niger, Orano initiates a second arbitration process to defend its interests in a strategic market.
Federal Grants: Two Small Modular Reactor Projects Under Discussion
American Electric Power is pursuing funding to explore the installation of small modular reactors in Indiana and Virginia. An initiative with significant economic and political implications.
en_11401333540
Federal Grants: Two Small Modular Reactor Projects Under Discussion
American Electric Power is pursuing funding to explore the installation of small modular reactors in Indiana and Virginia. An initiative with significant economic and political implications.
en_11401333540
Orano concludes a strategic mining pact in Mongolia
The French group Orano (formerly Areva) has signed a crucial agreement in Mongolia for the exploitation of a vast uranium deposit. This initiative involves a major investment and arouses the interest of observers, both for supply security and industrial implications.
en_11401303540
Orano concludes a strategic mining pact in Mongolia
The French group Orano (formerly Areva) has signed a crucial agreement in Mongolia for the exploitation of a vast uranium deposit. This initiative involves a major investment and arouses the interest of observers, both for supply security and industrial implications.
en_11401303540
Vinci calls for private funding to speed up EPR reactors
Vinci calls for private funding to speed up EPR reactors
en_11401307540
Vinci calls for private funding to speed up EPR reactors
Vinci calls for private funding to speed up EPR reactors
en_11401307540

The new nuclear safety authority reaffirms transparency

The new nuclear safety authority reaffirms transparency
Nuclear Power in 2025: A Record Production Driven by China
In 2025, nuclear energy will reach an unprecedented production level, driven by China and the growing global electricity demand. Former leaders, such as the United States and Europe, see their influence diminish amidst these changes.
en_11401280540
Nuclear Power in 2025: A Record Production Driven by China
In 2025, nuclear energy will reach an unprecedented production level, driven by China and the growing global electricity demand. Former leaders, such as the United States and Europe, see their influence diminish amidst these changes.
en_11401280540
Estonia: Fermi Energia Initiates Site Selection Process for a 600 MW Nuclear Plant
Fermi Energia has submitted an application to Estonia's Ministry of Economic Affairs to begin the spatial planning process for a 600 MW nuclear power plant, marking a key step in the country's energy transition.
en_11401262540
Estonia: Fermi Energia Initiates Site Selection Process for a 600 MW Nuclear Plant
Fermi Energia has submitted an application to Estonia's Ministry of Economic Affairs to begin the spatial planning process for a 600 MW nuclear power plant, marking a key step in the country's energy transition.
en_11401262540
Vietnam and Russia Strengthen Their Nuclear Alliance
Vietnam revives its nuclear power plant project with Russia's support, consolidating a strategic alliance to meet soaring energy demands.
en_11401265540
Vietnam and Russia Strengthen Their Nuclear Alliance
Vietnam revives its nuclear power plant project with Russia's support, consolidating a strategic alliance to meet soaring energy demands.
en_11401265540

Canada Approves KRONOS MMR for Projects at 45 MWt

The KRONOS MMR™, a modular nuclear reactor developed by NANO Nuclear, achieves regulatory progress and targets key industrial applications, including hydrogen and artificial intelligence.
The UK Denies Cost Surge in Sizewell C Nuclear Project
The British government refutes Financial Times claims about the doubling of costs for the Sizewell C nuclear power plant project led by EDF in eastern England.
en_11401273540
The UK Denies Cost Surge in Sizewell C Nuclear Project
The British government refutes Financial Times claims about the doubling of costs for the Sizewell C nuclear power plant project led by EDF in eastern England.
en_11401273540
IsoEnergy ends its acquisition plan with Anfield and adjusts its strategic priorities
Following the termination of its agreement with Anfield Energy, IsoEnergy redirects its efforts toward optimizing its uranium assets in North America and Australia amidst a changing market landscape.
en_11401268540
IsoEnergy ends its acquisition plan with Anfield and adjusts its strategic priorities
Following the termination of its agreement with Anfield Energy, IsoEnergy redirects its efforts toward optimizing its uranium assets in North America and Australia amidst a changing market landscape.
en_11401268540
The Court of Audit Warns About Risks in EDF’s EPR2 Program
The Court of Audit highlights significant uncertainties surrounding the EPR2 program, revealing persistent financial and technical risks. A critical report calls for resolving these issues before proceeding with new investments.
en_11401242540
The Court of Audit Warns About Risks in EDF’s EPR2 Program
The Court of Audit highlights significant uncertainties surrounding the EPR2 program, revealing persistent financial and technical risks. A critical report calls for resolving these issues before proceeding with new investments.
en_11401242540

South Korea Strengthens Nuclear Exports Through Industry-Academia Partnership

Doosan Enerbility and the International Nuclear Non-proliferation Center join forces to boost exports and develop modular reactors, addressing growing energy demands.
The Czech Republic aims for 68% nuclear electricity by 2040
The new Czech energy plan projects a rise to 68% nuclear electricity by 2040, alongside a boost in renewables to meet the European Union's climate targets.
en_11401197540
The Czech Republic aims for 68% nuclear electricity by 2040
The new Czech energy plan projects a rise to 68% nuclear electricity by 2040, alongside a boost in renewables to meet the European Union's climate targets.
en_11401197540
The United States lifts 200 restrictions on Indian nuclear entities
The United States announces the lifting of 200 restrictions on Indian nuclear entities, marking a key step in their strategic cooperation and creating opportunities for the civil energy sector.
en_11401193540
The United States lifts 200 restrictions on Indian nuclear entities
The United States announces the lifting of 200 restrictions on Indian nuclear entities, marking a key step in their strategic cooperation and creating opportunities for the civil energy sector.
en_11401193540
EDF relaunches the Nuward SMR with 400 MW for the European industry
EDF steps up its efforts with the Nuward SMR, a 400 MW reactor designed to meet the strategic energy needs of industries and public utilities in Europe.
en_11401174540
EDF relaunches the Nuward SMR with 400 MW for the European industry
EDF steps up its efforts with the Nuward SMR, a 400 MW reactor designed to meet the strategic energy needs of industries and public utilities in Europe.
en_11401174540

Sweden welcomes a Strategic Partnership for Fusion Energy

Novatron Fusion Group and Oxford Sigma partner to accelerate the development of fusion power plants in Sweden, combining innovative technologies and advanced materials for reliable industrial solutions.
Norway Approves Halden for a 1200 MWe SMR Nuclear Plant
Halden Kjernekraft is studying the construction of a 1200 MWe nuclear power plant based on small modular reactors (SMR). This project could reshape Norway’s energy landscape.
en_11401148540
Norway Approves Halden for a 1200 MWe SMR Nuclear Plant
Halden Kjernekraft is studying the construction of a 1200 MWe nuclear power plant based on small modular reactors (SMR). This project could reshape Norway’s energy landscape.
en_11401148540
The United States allocates 7 billion in tax credits for nuclear-powered hydrogen
New U.S. tax rules now allow some existing nuclear power plants to qualify for hydrogen production tax credits, targeting 200 MW per reactor at risk of closure and boosting regional projects.
en_11401146540
The United States allocates 7 billion in tax credits for nuclear-powered hydrogen
New U.S. tax rules now allow some existing nuclear power plants to qualify for hydrogen production tax credits, targeting 200 MW per reactor at risk of closure and boosting regional projects.
en_11401146540
The United States authorizes the Monticello plant to produce 671 MWe until 2050
The NRC extends the license of the Monticello nuclear plant until 2050, confirming its strategic capacity of 671 MWe. This decision aligns with the United States' strict and sustainable energy policy.
en_11401139540
The United States authorizes the Monticello plant to produce 671 MWe until 2050
The NRC extends the license of the Monticello nuclear plant until 2050, confirming its strategic capacity of 671 MWe. This decision aligns with the United States' strict and sustainable energy policy.
en_11401139540

France and ASNR integrate 2,000 experts in a contested nuclear reform

The Nuclear Safety and Radiation Protection Authority (ASNR) restructures the French nuclear sector by integrating 2,000 employees. This reform, at the heart of political and economic challenges, raises questions about governance and transparency.
France sets electricity export record with 89 TWh in 2024
In 2024, France achieved an unprecedented net electricity export level of 89 TWh, driven by a restored nuclear production and strengthened renewable performance.
en_11401108540
France sets electricity export record with 89 TWh in 2024
In 2024, France achieved an unprecedented net electricity export level of 89 TWh, driven by a restored nuclear production and strengthened renewable performance.
en_11401108540
France relaunches ASNR with uncertain budget for 2025
The merger of IRSN and ASN into the new ASNR raises concerns about expertise independence and a budget impasse expected as early as February 2025, according to unions.
en_11401084540
France relaunches ASNR with uncertain budget for 2025
The merger of IRSN and ASN into the new ASNR raises concerns about expertise independence and a budget impasse expected as early as February 2025, according to unions.
en_11401084540
Europe’s Nuclear Revival: Accelerating SMR Development
After years of focusing on renewable energy, the European Union is channeling resources into developing small modular reactors (SMRs) and strengthening its nuclear infrastructure.
en_11401074540
Europe’s Nuclear Revival: Accelerating SMR Development
After years of focusing on renewable energy, the European Union is channeling resources into developing small modular reactors (SMRs) and strengthening its nuclear infrastructure.
en_11401074540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS