New battery company set up in Olkiluoto
Teollisuuden Voima Oyj (TVO) has founded a new subsidiary, Olkiluodon Akku Oy, in October. The new company owns and operates the battery energy reserves in Olkiluoto and nearby areas.
The company, which is fully owned by TVO, defines its field of operation as the ownership and operation of battery energy reserves and providing the electricity stored in the battery storages for the system protection run by the national grid company Fingrid. The Battery Energy Storage System is designed to support, fort its part, the overall energy system in case of any production disruptions at the Olkiluoto 3 plant unit (OL3) and thus to reduce the impact of power fluctuations on the national grid.
The energy in the battery energy storages can also be offered to the electricity market, when the electricity is not needed for system protection.
The current battery energy storage in Olkiluoto is one of the largest in Europe (90 MW). TVO is planning the construction of a further possible battery energy storage in Rauma.
The Teollisuuden Voima Group has until now included the subsidiary TVO Nuclear Services Oy (TVONS) as well as Posiva Oy that focuses on the final disposal of spent nuclear fuel. TVO Nuclear Services Oy, which markets expert services related to nuclear power, is a subsidiary fully owned by TVO. Posiva Oy is a company owned jointly by TVO and Fortum where TVO has a shareholding of 60 percent. Posiva Solutions Oy (PSOY) is a subsidiary fully owned by Posiva. The domicile of all the companies is Eurajoki.