Pohjolan Voima in brief


Pohjolan Voima invests in our common future

Pohjolan Voima produces electricity and heat to its shareholders with hydropower, thermal power and nuclear power.   

Versatile production

Pohjolan Voima was established in 1943. The Company’s founders needed electricity for their operations. 

In the following decades, Pohjolan Voima has grown into an energy group of companies with versatile competence and production structure. Our focus is on hydropower, thermal power and nuclear power.  

Since the turn of the millenium, Pohjolan Voima has invested  four billion euros into hydropower, thermal power and nuclear power.

Taking the environment into consideration

94 per cent of Pohjolan Voima's electricity production is carbon-neutral. With a determined investment policy, we have been able to increase the share of carbon-neutral production in recent years. Our target is over 95 per cent carbon-neutral electrcity production in 2020.

In this manner Pohjolan Voima contributes to the energy industry's target to be entirely carbon neutral by the year 2050.

Interaction and holding people in high regard

People are Pohjolan Voima's most important energy source. We continue to reinforce our engaging, interactive leadership and open business culture. With these, we will create the preconditions for our future success.

Looking forward

Pohjolan Voima has always had the courage to make decisions that reach far into the future. Capital-intensive investments that will last for several decades cannot be based on recent trends alone. When the decision is reached, we must believe in it and be able to live with it for the coming decades.

At-cost-principle: effective way to energy investments

An operating model based on cost price is an effective way to implement energy investments. This operating model enables a large number of actors to participate in projects both directly and indirectly.

Large projects allow our extensive experience and expertise to be utilised in an ideal way. Even in the future, we want to look boldly beyond the present moment.

16 biomass-fired power plants

At the turn of the millennium, Pohjolan Voima launched jointly with its shareholders an extensive construction programme of biomass-fired power plants. In 2012, Pohjolan Voima's fifteenth bioenergy power plant was completed in Hämeenkyrö. 

Vaskiluodon Voima, our affiliate, has added a biogasifier to their Vaasa plant that enables a significant share of coal to be replaced with wood chips.

Renovations of hydropower plants

Investments in the renovation of our hydropower plants in the river Iijoki were completed in 2013 with four modenised power plants in eight years. The renovation works continued at the Melo hydropower plant in 2014 - 2015 in the river Kokemäenjoki. The automation systems of the Isohaara power plant in the river Kemijoki were modernised in 2016 - 2017. The electrical and automation systems of the Raasakka power plant in the river Iijoki were modernised in 2018.

Pohjolan Voima has contributed to Teollisuuden Voima’s nuclear power project. At Olkiluoto, the preparations for the commissioning of the OL3 EPR nuclear power plant unit are underway, and the construction of a final disposal facility for spent nuclear fuel has begun.

A fifth of the electricity consumed in Finland

Pohjolan Voima has 21 power plants across Finland. The share of Pohjolan Voima's electricity generation of the total electricity production in Finland is approximately 20 per cent. 

Pohjolan Voima generates electricity with

  • water,
  • uranium,
  • wood,
  • peat,
  • agrobiomass,
  • solid recovered fuels (SRF),
  • coal,
  • natural gas and oil are used as auxilary or star-up fuels.

Pohjolan Voima has 23 shareholders. Our shareholders are Finnish export industry companies, energy companies and cities. Pohjolan Voima's business model is based on at-cost principle.

Shareholders by sector