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Fennovoima announced it has initiated arbitration proceedings against the Russian state-owned nuclear energy company on Saturday, saying it expects counterclaims from Rosatom.
Joachim Specht, the CEO of the Finnish nuclear power company, told Helsingin Sanomat that the consortium is seeking almost two billion euros in damages from Rosatom, a Russian state-owned nuclear power company.
Rosatom hits back at Fennovoima; TVA plans to apply for SMR later this year or early next; mixed signals on Iran talks.
Fennovoima's decision to end its EPC contract with Rosatom is likely only the beginning of the long process of unwinding the relationship between the two companies.