Finnish energy company Fennovoima has completed cooperation with Russian Rosatom on the construction of the Hanhikivi nuclear power plant in the Gulf of Bothnia, the company’s management announced on Monday. “One of the most egregious phases of Finnish energy policy” is over, the press commented.
The reasons for the termination of the contract, according to the statement of the Finnish company, are “significant delays”, “inability” of the Russian side to implement the project and “risks associated with the war in Ukraine”.
The Finnish-Russian consortium’s project to build the Hankikivi reactor at Pyhajoki on the country’s northwest coast has been one of the largest private investments in Finland, with a total cost estimated at around 7 billion euros. Fennovoima received parliamentary approval for the construction of the power plant in 2010. The start of cooperation with the Russian side in the supply of the reactor was controversial from the very beginning, when it coincided with the annexation of Crimea by Russia in 2014.
The application for a building permit has been considered by the ministry since 2015, but in the end it was not completed, including due to the lack of documents and reports confirming radiation safety.
After the start of Russian aggression against Ukraine at the end of February this year, Prime Minister Sanna Marin and Minister Lintila made it clear that the project could not continue.
According to the initial plans, the building permit was to be issued in 2022, the start of construction work in 2023, and the launch of the power plant in 2029.
The reactor was supposed to provide approximately 10 percent. domestic demand for energy. It was supposed to be the third nuclear power plant in Finland.