i-Nuclear update: Areva-Siemens win C125 million from TVO over OL3, but C2 billion is in dispute

Areva-Siemens win €125 million from TVO over OL3, but €2 billion is in dispute by I-Nuclear

An Areva-Siemens consortium have won a €125 million plus arbitration award in a partial judgment in a case in which €2 billion or more is in dispute.

The Areva-Siemens consortium building the EPR reactor at Finland’s Olkiluoto-3 have won a partial judgment for €125 million from Finnish utility Teollisuuden Voima Oyj (TVO), Areva said in a statement July 5.

The judgment came from the Court of Arbitration of the International Chamber of Commerce and requires TVO to release €100 million owed to the consortium, but withheld over contract disputes, Areva said.  Areva said the money was withheld “in contravention of contractual provisions.”