nuclear-news

Rosatom and Finland’s Fennovoima claim different wins after tribunal ruling

By Reuters,Reporting by Anastasia ​Lyrchikova, Additional reporting and writing by Alessandra Prentice Editing by Ros Russell, Alexandra Hudosn  October 11, 2026,
https://www.reuters.com/business/energy/rosatom-says-it-wins-tribunal-ruling-finnish-nuclear-plant-dispute-2026-10-10/

– Russia’s state nuclear corporation Rosatom and Finnish utility Fennovoima each highlighted different parts ​of an International Chamber of Commerce (ICC) tribunal ruling as ‌favourable on Saturday, in a long-running dispute over the cancelled Hanhikivi-1 nuclear power project.

The parties have been locked in legal disputes since Fennovoima scrapped the 7-billion-euro ($7.8 ​billion) project in May 2022, citing significant delays and political ​risks shortly after Russia launched its conflict in Ukraine.

Rosatom said ⁠the tribunal found that Fennovoima had unlawfully terminated the contract for ​the construction of the planned plant in northern Finland.

“Today’s victory is ​important, but not final. We will continue to prove that we are right regarding the Finnish project in courts of various instances,” Rosatom Director General Alexey Likhachev ​said in a statement, which did not refer to any ​financial outcome.

Fennovoima said the tribunal found that it had not been entitled to terminate ‌the ⁠contract, but that it was entitled to receive reimbursements of advance payments and interest in excess of 1 billion euros ($1.12 billion).

It said the tribunal offset both sides’ claims, resulting in Rosatom subsidiaries being ordered ​to pay Fennovoima ​a net ⁠606 million euros plus interest.

The ICC did not immediately respond to a request for comment.

The contract to ​build the 1.2 gigawatt plant was signed in 2013 ​with ⁠Fennovoima, a consortium in which Finnish stakeholders including Fortum, Outokumpu and SSAB originally controlled two thirds through a joint venture, and the Russian side ⁠held ​one third.

After the project’s termination, Fennovoima wound ​down its operations and is primarily engaged in legal proceedings.

October 15, 2026 - Posted by Christina Macpherson | Finland, Legal, Russia