Who is Migrit Solarna?

This past Thursday an article by Reuters indicated a project to build a nuclear reactor in Finland had been halted by the Finnish government over concerns about the ownership structure of Migrit Solarna, the proposed builder of the reactor.

Migrit Solarna is registered in Croatia as shown below:

Magrit Solarna registration in Croatia
Migrit Solarna registration in Croatia

Migrit Solarna is a subsidiary of Migrit Energija, which is also registered at the same address in Zagreb, Croatia.

Migrit’s website now shows the following message:

Magrit Statement
IMPORTANT! Migrit Solar Energy Ltd. does not have its offices in Europe, (for now) and are familiar with the fact that someone is using our name. All our correspondence is via our official website!

There are several other companies registered at the address in Zagreb that Migrit is using including a company calling itself an “Internation Accounting Service“. In addition, a company called Titan Energija is also registered at the same address and appears to be connected to Migrit.

According to a statement released by Greenpeace earlier this month, the deal is “a hoax, and a front for Russian capital.”

A Finnish publication also put out a report [in Finnish] attempting to prove that the members of Migrit were connected to the Russian company Inteco using social media and public records.

Fennovoima-Inteko
Migrit-Inteko Connections

The Slovakian filings for Tetroner Consulting can be found here.

Inteco was founded by Yelena Baturina in 1991 and made most of its money off of real estate deals in Moscow. Many considered it to be a conflict of interest as Baturina’s husband, Yuri Luzhkov, was the mayor of Moscow at the time.

When Luzhkov was forced out of office and then Russia in 2011, Inteco met with legal problems, and as a result is now owned by Mikhail Shishkhanov, who holds a 95% stake in the company, according to Kommersant. The other 5% is held by a subsidiary of Russian state-owned bank, Sberbank. Shishkhanov is co-owner of B&N Bank along with his uncle, the oligarch Mikhail Gutseriev, who fled Russia for London in 2007 following a series of events that included allegations of tax evasion and the murder of his son.

Since his return to Russia in 2010, Gutseriev has been buying up companies around Moscow, including real estate and radio stations. Earlier this year, RBC alleged that Inteco was to be an “investor” in the construction of a new complex of buildings for Lomonosov Moscow State University, a 110 billion ruble project. Gutseriev is a member of the Board of Trustees at the University, which was established in 2013. under the chairmanship of President Putin.

The Helsinki Times reported earlier this month that “the sole founder of Migrit Energija” is “Mikhail Zhukov, Moscow resident and vice president of Inteco.”

In addition, Russia’s state-owned nuclear corporation, Rosatom purchased 34% of Fennovoima in March 2014.

Finland says the decision on Migrit’s role is up to their Minister of Economy.

But after the statement from Finland’s government, Migrit responded on their website with a press release denying wrongdoing, and saying:

One of the most important facts that we want to highlight, and which indicates a clear desire of the Finnish partners for us to participate in the project, is that yesterday (16.07.2015.) we were given a new proposal by the representative of the company VSF, Mr. Antti Koskelainen with the altered offer to possibly participate in the entire project now with 6 percent of total share.

The original deal had been a 9 percent stake. Either way, the project would still be Russian at both ends. And in these times, that should be concerning, and taken into consideration by the Finnish government.

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One thought on “Who is Migrit Solarna?

  1. Pingback: Fennovoima Update | ninajobe

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