The Court of Arbitration of the International Chamber of Commerce has ruled in favor of the AREVA-SIEMENS Consortium in a dispute with TVO

Paris, (PresseBox) - The Court of Arbitration of the International Chamber of Commerce (ICC), called on in order to resolve the dispute between the AREVA-SIEMENS consortium and its customer, the Finnish operator TVO, as part of the construction of the EPR reactor of the Olkiluoto 3 (OL3) nuclear power plant in Finland, has just handed down a partial judgment requiring TVO to release 100 million euros owed to the AREVA-SIEMENS Consortium, and withheld in contravention of contractual provisions.

With accrued interest, TVO shall pay a total amount of 125 million euros, in addition to the legal expenses incurred by the Consortium.

AREVA GmbH

AREVA supplies solutions for power generation with less carbon. Its expertise and unwavering insistence on safety, security, transparency and ethics are setting the standard, and its responsible development is anchored in a process of continuous improvement.

Ranked first in the global nuclear power industry, AREVA's unique integrated offering to utilities covers every stage of the fuel cycle, nuclear reactor design and construction, and related services. The group is also expanding its operations to renewable energies - wind, solar, bioenergies, hydrogen and storage - to be one of the leaders in this sector worldwide.

With these two major offers, AREVA's 48,000 employees are helping to supply ever safer, cleaner and more economical energy to the greatest number of people.

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