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Home  /  News /  Teollisuuden Voima Oyj (TVO) signs a loan agreement with the Nordic Investment Bank

Teollisuuden Voima Oyj (TVO) signs a loan agreement with the Nordic Investment Bank

17.12.2018

The Nordic Investment Bank has granted financing to the amount of EUR 65 million to TVO 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 890 megawatts of carbon dioxide-free electricity, which accounts for about 16 percent of the total consumption of electricity in Finland.

For more information, please contact:
Mikko Honkaheimo, Controller
Tel. +358 (0)9 6180 6406