TVO signs a loan agreement with the European Investment Bank

30.9.2016

​ The European Investment Bank (EIP) has granted financing to the amount of one hundred million euros to Teollisuuden Voima for modernisation and safety improvement projects at the two operating plant units Olkiluoto 1 and Olkiluoto 2.

The investment is designed to improve the safety, reliability and production efficiency of TVO's two operating plant units. The projects to be implemented to achieve this include the replacement of the existing eight emergency power diesel generators with nine new generators, the replacement of the recirculation pumps and their frequency converters, and the installation in the reactors of a steam-driven coolant injection system that is not dependent on external power supply.

The Olkiluoto 1 and Olkiluoto 2 plant units both produce 880 megawatts of carbon dioxide-free electricity, which accounts for about 18 percent of the total consumption of electricity in Finland.

For more information, please contact: Lauri Piekkari, Senior Vice President, Treasury, tel. +358 9 6180 6110.