Rosatom Overseas renamed Rosatom Energy International

Russian state nuclear company Rosatom said recently that its international branch of operations has changed its name from Rosatom Overseas to Rosatom Energy International (REI).

The name change follows strategic restructuring plans that were determined by the parent company’s strategic council in May 2015. REI holds majority stakes in the Akkuyu Nuclear Power Plant project in Turkey and a 34 percent stake in nuclear project management firm Fennovoima through its subsidiary, Voima Oy, in Finland. Both of these companies operate nuclear plants or manage the construction of nuclear plants and the resulting operations upon completion.

REI is focused on the management of all Rosatom projects outside of the Russian Federation, which includes the construction and operation of nuclear plants. The company also typically functions as a shareholder for companies that take on projects associated with the company. REI also obtains financing and sells electricity to other countries.

The name change was approved unanimously at a recent shareholders meeting. Shareholders in REI consist of Rosatom, with 44.13 percent, and a conglomerate that manages Russian nuclear-sector civil assets under the name Atomenergoprom, which owns the remaining 55.87 percent.