03.11.2009
Pohjolan Voima and NIB signed a loan agreement for hydropower renovation
Pohjolan Voima's subsidiary PVO-Vesivoima Oy and NIB have signed a loan agreement totalling EUR 30 million. NIB, the international financial institution of the Nordic and Baltic countries, will finance the upgrading of hydropower plants, a renovation programme called VESPA.
The renovation programme will continue along the river Iijoki until 2015. The investment project envisages the replacement of the turbines, a revision and partial replacement of the generators, as well as the modernisation of the automation system. The upgrading will increase the total capacity of the five hydropower plants along the river Iijoki by an estimated 40 MW.
The Kierikki plant was refurbished in 2005 - 2007, and the Haapakoski plant in 2007 - 2009. The programme will continue at the Maalismaa plant.
The renovation programme will continue along the river Iijoki until 2015. The investment project envisages the replacement of the turbines, a revision and partial replacement of the generators, as well as the modernisation of the automation system. The upgrading will increase the total capacity of the five hydropower plants along the river Iijoki by an estimated 40 MW.
The Kierikki plant was refurbished in 2005 - 2007, and the Haapakoski plant in 2007 - 2009. The programme will continue at the Maalismaa plant.