Russia Transfers Funds For Finland’s Hanhikivi-1

Posted by NucNet on 3 April 2015 in NucNet

Tagged with: Finland, Hanhikivi, Rosatom, Russia.

Plans & Construction

Russia has transferred 57.5 billion roubles (about €925 million) from its sovereign wealth fund into preferred shares of Atomenergoprom, a subsidiary of Russian state nuclear corporation Rosatom, for the construction of Finland’s planned nuclear power station Hanhikivi-1, the Russian ministry of finance said yesterday.

In January 2015, Russia’s Cabinet of Ministers approved up to 150 billion roubles in funding from the fund for the nuclear project being developed by Fennovoima. Rosatom acquired a 34 percent stake in Fennovoima through a Finland-based subsidiary named RAOS Voima Oy in March 2014. Hanhikivi-1 will be based on Russia’s AES-2006 Generation III+ pressurised water reactor design.