Rosatom CEO Criticizes Finland's Cancellation of Hanhikivi Nuclear Project
Alexey Likhachev labels the unilateral termination of the contract as contrary to law and common sense
Quick Look
Rosatom CEO Alexey Likhachev has criticized Finland's 2022 decision to terminate the Hanhikivi nuclear power plant contract, describing it as a move driven by political factors that ignores economic reality.
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Why It Matters
The Hanhikivi NPP was a joint project between Russia's Rosatom and Finnish stakeholders, intended to utilize a VVER-1200 reactor design.
Finland's decision to abandon the construction of the Hanhikivi NPP was contrary not only to the law and the contract, but also to common sense, Rosatom CEO Alexey Likhachev said on Monday.
"Practice shows that in such a sensitive and capital-intensive field as energy, decisions made under the influence of political conjuncture quickly collide with reality," Likhachev said in an interview with newspaper Strana Rosatom. "The reality is quite simple: the state needs a reliable, affordable and long-term energy base and if we deviate from this principle, the consequences will be felt both for the economy and the social sphere."
"Bangladesh can be cited as an example of responsible progress. Finland's decision to abandon the construction of the Hanhikivi nuclear power plant contravened not only the law and the contractual obligations, but also common sense," he added.
In Finland, Rosatom began preparatory work in 2016 on the Hanhikivi NPP project featuring a VVER-1200 reactor. However, in 2022, the contract for the plant’s construction was unilaterally terminated by the Finnish side.
What to Watch
AI outlook — possibilities, not facts
Continued legal or arbitration proceedings regarding the contract termination
Likely · Within months
Open Questions
- What are the current legal statuses of the contract termination disputes?
- Are there ongoing financial compensation claims between the parties?
