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    TVO in brief

    Teollisuuden Voima Oyj is a non-listed public company founded in 1969 to produce electricity for its shareholders at cost price.

    The company owns and operates two nuclear power plant units, Olkiluoto 1 and Olkiluoto 2 (OL1 and OL2) at Olkiluoto in Eurajoki. TVO is also a shareholder in the Meri-Pori coal-fired power plant. A third nuclear power plant unit (OL3) is under construction at Olkiluoto. In July 2010 the Parliament ratified the favourable decision-in-principle the Finnish Government made concerning the Company's application to construct its fourth nuclear power plant unit Olkiluoto 4 (OL4).

    The Olkiluoto power plant has been running for more than 30 years with an extremely high degree of reliability. The capacity factors for both units have been at the top of the league internationally for nearly the entire history of the power plant. Olkiluoto 1 today have a net output of 885 MW and Olkiluoto 2 have a net output of  860 MW, and together they produce slightly more than 16% of all the electricity consumed in Finland.

    Mission

    Safe, economical and environmentally benign generation of electricity. 



    History

    Teollisuuden Voima Oy was founded by 16 Finnish industrial and power companies on January 23, 1969. In 1970, the Board of Directors of TVO made a decision to build a nuclear power plant unit with an output of about 600 MW. In 1972, the Swedish company Asea Atom (today Westinghouse Electric Sweden AB) was chosen to deliver the power plant. Construction on Olkiluoto 1 began in winter 1974, and the unit went on stream in September 1978. Construction on Olkiluoto 2 began in summer 1975, and the unit went on stream in February 1980.

    TVO has been registered in the trade register as a public company as of 31 December, 2007. The official name of the company is Teollisuuden Voima Oyj.