It has terminated the engineering, procurement and construction contract for the delivery of the Hanhikivi 1 nuclear power plant with Rosatom subsidiary RAOS Project due to what it says are RAOS Project's significant delays and inability to deliver the project. There have been significant and growing delays during the last years, it said, adding that the war in Ukraine has worsened the risks for the project and that 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,” said Fennovoima CEO Joachim Specht. “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.”
Board chairman Esa Härmälä added: “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.”