Rusatom Overseas welcomes Fortum’s decision to enter Hanhikivi 1 NPP project

 Fortum’s purchase of a minority stake in the project implemented by Fennovoima will allow to meet the requirement of the Ministry of Employment and the Economy of Finland in accordance with which at least 60 per cent of the shares should be in the Finnish ownership.

Kirill Komarov, Deputy CEO for Corporate Development and International Business of Rosatom Corporation said: “Russian nuclear industry has been cooperating with Fortum for more than 40 years, and we are happy that our cooperation is entering a new phase. Fortum’s readiness to participate in our joint project with Fennovoima is a truly positive signal. If Fortum becomes a shareholder, the Hanhikivi 1 project will have access to the competences of one of the leading energy experts in Finland.”

In December 2013, Rusatom Overseas and Fennovoima signed the EPC Contract for Hanhikivi 1 nuclear power plant in the region of Northern Ostrobothnia, Finland. In March 2014, RAOS Voima Oy, subsidiary of Rusatom Overseas, purchased a 34-percent share in Fennovoima.