Rosatom State Corporation pressed Fennovoima to repay the loan of 920.5 million euros ahead of schedule after the Finnish company unilaterally terminated the Hanhikivi-1 nuclear power plant project in 2022, according to a report from Atomenergoprom, a Rosatom group that consolidates civilian assets of the Russian nuclear industry, under IFRS 2022 data.
The document notes that international arbitrations are examining requests from Atomenergoprom entities totaling around €3 billion because of the contract termination by Finland. It adds that the group’s organizations have sought early repayment of the loan Fennovoima Oy received to finance the Hanhikivi-1 project.
In addition, the report states that the Russian side has claimed compensation for the value of its shares in the Finnish company in response to the termination of the shareholding agreement.
Rosatom CEO Alexei Likhachev asserted that Finland should bear the cost of the contract termination, which ended Moscow’s involvement in the Hanhikivi-1 project.
He also highlighted that in December the International Disputes Investigation Board (DRB) deemed the contract termination by the design company Fennovoima to be illegal. Such a ruling would grant the company the right to seek compensation for the impact of that decision.