Decision in favor of Rosatom from the International Arbitration Court: Finland will pay compensation

In the written statement made by Rosatom, information was given about the long-standing legal dispute with the Finnish energy company Fennovoima regarding the Hanhikivi-1 NPP project.

In the statement, it was stated that the Arbitration Court within the International Chamber of Commerce (ICC) decided that Fennovoima's unilateral termination of the contract for the construction of the power plant in 2022 was unlawful.

In addition, it was reported that the court found that progress was made in the project at the time the contract was terminated and that Rosatom continued its work on obtaining the necessary construction license.

Rosatom General Manager Alexey Likhachev, whose views were included in the statement, stated that the decision is important but not final and said, "We will continue to prove our rightness regarding the project in Finland in various courts." he said.

In the statement, it was noted that the final compensation amount to be paid by Finland will be determined after the conclusion of other ongoing legal processes.

A contract was signed between Rosatom and Fennovoima in 2013 for the construction of the Hanhikivi-1 NPP with a capacity of 1200 megawatts in the north of Finland.

Fennovoima, which canceled the project worth approximately 7 billion euros in May 2022, cited the delays in construction and the increasing political risks following the Russia-Ukraine War as the reasons for its decision.