Fennovoima Update

The Fennovoima scandal has gotten bigger with reported connections to “Bulgaria’s energy mafia”. According to  Österbottens Tidning, a deputy member of Fennovoima’s board, Djurica Tankosic, has ties to Bogomil Manchev from Risk Engineering.

The two were revealed to be connected in 2011 in a report by Wikileaks:

In 1998, Manchev and Risk [Engineering] formed a business partnership with Parsons, specifically its regional director in Europe, Djurica Tankosic, an American citizen…. The relationship between Manchev [from Risk Engineering] and Tankosic is reportedly very close; the address for Parsons E & C Bulgaria is the same as Risk Engineering. It is this relationship that Manchev is likely referring to when, according to XXXXXXXXXXXX, he tells people that he is working for the United States–which, of course, has no basis in fact.

Djurica Tankosic is still listed on Fennovoima’s website as a deputy member of the board, and President of Global Nuclear of Worley Parsons.

Österbottens Tidning’s report continues:

Manchev is suspected, among other things, of forging environmental reports. Tankosic – who represents the Worley Parson consultancy – is suspected of the same in connection to the Belen plant.

On 24 June, Worley Parsons released the following statement:

WorleyParsons’ joint venture company in Russia, InterRAO-WorleyParsons, has signed a contract with Rosatom’s Finnish subsidiary, RAOS Project Oy, for the provision of consultancy services during the process of obtaining a construction licence for Fennovoima Hanhikivi-1greenfield project.

Fennovoima calls itself “Finland’s third nuclear power company”. 66% of the company is owned by Finland’s Voimaosakeyhtiö SF.

Voimaosakeyhtiö SF says that it “…operates like a co-operative. All shareholders will get the electricity generated by Fennovoima’s future nuclear power plant at cost price in proportion to their ownership.”

The other 34% of Fennovoima is owned by a subsidiary of Russia’s state-owned nuclear provider Rostom. The subsidiary was set up specifically to carry out the project in Finland. Rosatom is currently headed by former Russian Prime Minister, Sergei Kiriyenko.

Rosatom’s website has had no comment on the project since the statement released after the paperwork was submitted on the day of the 30 June deadline.

Voimaosakeyhtiö SF posted what looks like a joint statement with Mitgrit (believed to be connected to Russia’s Inteko) essentially refusing to comment on Migrit’s ownership structure, but insisting that it had complied with Finland’s request for clarification.

Meanwhile, the Russian taxpayers are losing out too. In January of this year, it was reported that Russia’s government approved the payment of $2.3 billion from the sovereign wealth fund to Rosatom for the project at Hanhikivi-1 in Finland.


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