Rosatom plans to continue with Hanhikivi project

15 April 2022

RAOS Project, the Finnish branch of Rosatom, said on 12 April that it will continue with its plan to build the Hanhikivi I NPP in Finland.

Reuters reported that the company will develop the VVER-1200 plant despite uncertainty over government permits following Russia’s invasion of Ukraine. Hanhikivi I will be located in the coastal municipality of Pyhäjoki on the shore of the Baltic Sea in Northern Ostrobothnia, Finland.

The plant was ordered by Finnish company Fennovoima. Finnish companies, including Outokumpu, Fortum and SSAB, hold a two-thirds stake in the project, with the remaining interest held by Rosatom’s subsidiary RAOS Voima. Following the Russian invasion of Ukraine, Finnish Economic Affairs Minister Mika Lintila said that it would be ‘absolutely impossible’ for the Finnish government to give permission to build the Hanhikivi I plant.

Fennovoima had expected to secure the construction licence from the Finnish Government this year to start building the power plant next year. According to Reuters, Finnish stakeholders are planning to withdraw from the nuclear power project and write down the project, but are not willing to pay RAOS Project for breaching existing contracts and possible insurances. In an email to Reuters, RAOS Project said: “Rosatom and RAOS Project continue fulfilling their obligations under signed agreements and contracts relating to the Hanhikivi I project. RAOS Project, as the supplier, is acting based on and in accordance with the engineering, procurement and construction contract signed in December 2013 with Fennovoima.”

RAOS Project had begun preparatory works such as cabling and excavation at the site but would require government licensing to start construction works.

Photo: Proposed Hanhikivi nuclear power plant (Credit: Fennovoima)

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