Likhachev: Finland would have received the latest nuclear power plant if it had not broken the contract

The International Arbitration Court of the International Chamber of Commerce (ICC) declared the unilateral termination by the Finnish party of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant illegal.

According to Rosatom General Director Alexei Likhachev, Finland could have received the latest nuclear power plant and inexpensive green electricity if the contract had not been terminated.

MOSCOW, October 10 - RIA Novosti. Finland, if it had not broken the contract with Russia for the construction of the Hanhikivi-1 nuclear power plant, would have received a new nuclear power plant, and with it inexpensive green electricity, said Alexey Likhachev, General Director of the Rosatom state corporation.

The International Arbitration Court of the International Chamber of Commerce (ICC) has declared illegal the Finnish side's unilateral termination of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant, the Russian nuclear state corporation reported.

“At the same time, I would like to add that if we had not sued, but continued to jointly implement the project, then Finland would have received the latest nuclear power plant, and with it inexpensive and green electricity,” said Likhachev, whose words are quoted in the message.

The contract for the construction of the Hanhikivi-1 nuclear power plant in northern Finland was signed by the Finnish company Fennovoima and Rosatom in 2013 and envisaged the construction of one power unit with a capacity of 1200 MW according to the latest generation 3+ project.

The volume of investment in the project was estimated at 7-7.5 billion euros, the volume of localization for companies from Finland and other EU countries was expected to range from 1.8 to 2.7 billion euros. The station was supposed to cover 10% of Finland's total electricity needs. However, in May 2022, Fennovoima terminated the contract, citing Rosatom’s alleged violation of project deadlines, as well as the worsening political situation.