Fennovoima has terminated the contract for the delivery of the Hanhikivi 1 nuclear power plant with Rosatom
Fennovoima has terminated the EPC contract of plant delivery with RAOS Project due to RAOS Project's significant delays and inability to deliver the project. There have been significant and growing delays during the last years. The war in Ukraine has worsened the risks for the project. RAOS has been unable to mitigate any of the risks.
This means, that cooperation with RAOS Project is terminated with immediate effect and both the design and licensing work and works at the Hanhikivi 1 site with RAOS project end.
“Unfortunately, the termination of the EPC contract is estimated to have a significant employee impact in Fennovoima and is expected to impact also the supply chain companies and Pyhäjoki region. Our main objective is to support our employees by keeping them informed and work in close cooperation with both our employees and employee representatives. In addition, we focus on preserving the site,” says Joachim Specht, Fennovoima’s CEO.
“The decision to terminate the EPC contract with RAOS Project is not made lightly. In a such a large project there are significant complexities and decisions are made only after thorough considerations. We fully acknowledge the negative impacts and do our best to mitigate those,” says Esa Härmälä, chairman of the Board.
Fennovoima will provide further information and answer possible questions during a press conference on Monday May 2nd. At this point we do not provide separate one-to-one interviews. The event will be held at Technopolis premises in Helsinki, Salmisaari, Hiilikatu 3 beginning at 12:00.
Questions will be answered by CEO Joachim Specht and the Chairman of the Board Esa Härmälä.
Participants are kindly requested to inform in advance, please send an e-mail to communications@fennovoima.fi. When registering, please state the name of the participant and the media represented.
About Fennovoima Oy
Fennovoima is a nuclear energy company established to meet the energy needs of Finnish enterprises. Hanhikivi 1 nuclear power plant will generate approximately 10 percent of Finland’s electricity needs – reliably, and with no emissions.
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Latest releases from Fennovoima Oy
Fennovoima on päättänyt Hanhikivi 1 -ydinvoimalan laitostoimitussopimuksen Rosatomin kanssa2.5.2022 10:01:41 EEST | Tiedote
Fennovoima on päättänyt RAOS Projectin kanssa solmitun laitostoimitussopimuksen johtuen RAOS Projectin merkittävistä viivästyksistä ja kyvyttömyydestä toteuttaa Hanhikivi 1 -hanke. Viime vuosien aikana toimittajan merkittävät viivästykset ovat jatkuneet ja kasvaneet. Sota Ukrainassa on pahentanut hankkeen riskejä, joita RAOS Project ei ole kyennyt ehkäisemään.
Fennovoima updates the Construction License Application28.4.2021 12:10:38 EEST | Press release
Fennovoima has today submitted to the Ministry of Employment and the Economy an update to the application for a construction license for the Hanhikivi 1 nuclear power plant. In the update, the company describes the material changes and development that have taken place in the project since the original license application was submitted.
Fennovoima päivitti Hanhikivi 1 -ydinvoimalaitoksen rakentamislupahakemusta28.4.2021 12:10:37 EEST | Tiedote
Fennovoima on tänään jättänyt työ- ja elinkeinoministeriölle päivityksen Hanhikivi 1 -ydinvoimalaitoksen rakentamislupahakemukseen. Päivityksessä yhtiö kuvaa olennaiset muutokset ja kehityksen, joita hankkeessa on tapahtunut alkuperäisen lupahakemuksen jättämisen jälkeen.
Fennovoima’s year 2020 report published7.4.2021 10:59:22 EEST | Press release
Fennovoima's 2020 report shows that the design and licensing work for the Hanhikivi 1 plant has progressed during the year.
Fennovoiman vuosi 2020 -raportti julkaistu7.4.2021 10:59:20 EEST | Tiedote
Fennovoiman vuosi 2020 -raportti osoittaa, että Hanhikivi 1 -laitoksen suunnittelu- ja luvitustyö on edennyt vuoden aikana.
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