November 15, 2017 / 8:15 AM / in a year

Finland's TVO says wins another partial award in Olkiluoto arbitration

HELSINKI, Nov 15 (Reuters) - Finnish utility Teollisuuden Voima (TVO) said on Wednesday it won a third favourable partial award in its arbitration proceeding with the Areva-Siemens consortium related to delays at its Olkiluoto 3 nuclear reactor project.

TVO and plant supplier Areva-Siemens claim billions of euros from each other.

“The arbitration proceeding is still ongoing and it now proceeds towards the final award, in which the Tribunal will decide on the liabilities of the parties to pay compensation,” TVO said, adding that it believes the balance of the claims was in its favour. (Reporting by Jussi Rosendahl and Tuomas Forsell, editing by Terje Solsvik)

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