Subsidiaries and associated companies
The Group’s subsidiaries and associated companies have their own governing bodies as well as some committees and corporate documents.
Pohjolan Voima plays an active role in the management of its subsidiaries. Pohjolan Voima’s General Meeting of Shareholders issues directives to the Board of Directors regarding the composition of the Boards of Directors of the subsidiaries and, if necessary, certain decisions taken by the subsidiaries.
The parent company’s Board of Directors and the Corporate Executive Team discuss the main principles of the Group’s operations. Pohjolan Voima participates in the management and supervision of its subsidiaries and associated companies through its representatives appointed to the governing bodies of these companies.
Pohjolan Voima Oyj
Pohjolan Voima Oyj is the parent company of Pohjolan Voima Group.
A subsidiary of Pohjolan Voima Oyj, PVO-Vesivoima Oy owns and operates hydropower plants along the rivers Kemijoki, Iijoki, Kokemäenjoki and Tengeliönjoki.
Tornionlaakson Voima Oy
Tornionlaakson Voima Oy owns hydro power plants along the River Tornionjoki at Portimonkoski, Kaaranneskoski and Jolmankoski. The ownership of Tornionlaakson Voima Oy is divided between Pohjolan Voima’s hydropower company PVO-Vesivoima Oy (50 per cent share) and Tornionlaakson Sähkö Oy (50 per cent share).
Länsi-Suomen Voima Oy
An associated company of PVO-Vesivoima Oy (19.9 per cent share), Länsi-Suomen Voima owns Harjavalta hydro power plant at the River Kokemäenjoki.
Voimalohi Oy is jointly owned by PVO-Vesivoima Oy and Kemijoki Oy. Voimalohi breeds and acquires young fish to maintain the fish stock in the river.
Teollisuuden Voima Oyj
A 58.5 per cent owned joint venture of Pohjolan Voima Oyj, Teollisuuden Voima Oyj (TVO) owns the Olkiluoto nuclear power plant. Teolisuuden Voima Group includes a service company, TVO Nuclear Services Oy and Posiva Oy, an expert organisation responsible for the final disposal of spent nuclear fuel. Posiva Solutions Oy is a fully-owned subsidiary of Posiva Oy.
A subsidiary of Pohjolan Voima Oyj, PVO-Lämpövoima Oy owns the coal-fired thermal power plants in Kristiina and Tahkoluoto. The productional operation of the power plants has ended.
Oy Alholmens Kraft Ab
Pohjolan Voima Oyj has a 49.9 per cent share in Alholmens Kraft Ab, which has built a wood and peat-fired power plant, AK 2, in Pietarsaari at UPM Mill site. The company also owns an older wood-fired power plant, AK1 there.
Kymin Voima Oy
A jointly owned subsidiary of Pohjolan Voima Oyj (76 per cent) and KSS Energia Oy (24 per cent), Kymin Voima Oy has built a biofuel power plant in Kuusankoski. The power plant was commissioned in the autumn of 2002.
Rauman Biovoima Oy
A 72 per cent owned subsidiary of Pohjolan Voima Oyj, Rauman Biovoima Oy has built a biofuel-fired power plants as part of UPM mill in Rauma. The other owner of the company is Rauman Energia. The power plant became operational in late 2006.
Porin Prosessivoima Oy
A subsidiary of Pohjolan Voima Oyj, Porin Prosessivoima owns a power plant in Pori at the Venator industrial site. The biofuel-fired power plant became operational in late 2008.
Kaukaan Voima Oy
A 54 per cent owned subsidiary of Pohjolan Voima Oyj, Kaukaan Voima has built a biofuel-fired power plant in Lappeenranta as part of the UPM Kaukas Mill. The other owner of the company is Lappeenrannan Energia. The power plant become operational in 2009.
PVO Power Management Oy
A totally-owned subsidiary of Pohjolan Voima Oyj, PVO Power Management offers generation management services, electricity trading and balance management services for power plants owned by Pohjolan Voima and its shareholders. PVO Power Management operates as a balance responsible company in the Finnish power balance system and as a direct member of Nord Pool Spot.
PVO Power Services Oy
A totally-owened subsidiary of Pohjolan Voima Oyj, PVO Power Services offers electricity trading and balance management services for the shareholders of Pohjolan Voima.