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Pohjolan Voima celebrates its 75-year journey - The market-based energy sector making it possible to combat climate change

Hydropower and nuclear power play a key role as Finland is decreasing its emissions that affect the climate, according to Tapio Korpeinen, Chairman of the Board of Pohjolan Voima, and Ilkka Tykkyläinen, the recently appointed President and CEO of the company. Because of this, their operating conditions must be looked after. Korpeinen and Tykkyläinen presented their wishes to decision-makers today at Pohjolan Voima’s 75th anniversary celebrations.

Ilkka Tykkyläinen, who started as Pohjolan Voima’s President and CEO in August, sees the mitigation of climate change and digitalisation as central opportunities in the energy industry. At the same time, he calls for a better overall picture and more discussion on the significance of the energy sector.  

 –      “The energy industry is going through a change of unprecedented magnitude: the mitigation of climate change, digitalisation, the fast growth of renewable energy, the change in the role of consumers and the advancement of new technology. Still, it seems that the energy industry is not viewed as a whole, and the impact of decisions is not discussed to a sufficient extent.  In my opinion, we also view things too much from a national viewpoint, instead of seeing energy as a competitive factor for companies that transcends national borders. In any case, it is clear that an affordable and well-functioning energy system cannot be built through regulation but on market terms”, Tykkyläinen says.

Tapio Korpeinen, Chairman of the Board of Pohjolan Voima, hopes that decision-makers will reach long-term decisions.

–      “The production of electricity is developing to further decrease emissions and at the same time, we can maintain the cost competiveness and market-based nature of our electricity system. Hydropower and nuclear power play a key role as Finland is decreasing its emissions that affect the climate. Their operating conditions must be looked after and actions that would cause additional costs or restrictions in use for plants must be avoided”, Korpeinen says. 

The 75-year-old Pohjolan Voima raised its CO2-neutral production target to 95 percent

Pohjolan Voima is responsible for approximately one fifth of Finland’s electricity production.

 –      “Since 2000, we have invested nearly four billion euros in carbon-neutral production of electricity, of which more than €1.6 billion in renewable energy. In 2017, the share of carbon-neutral production exceeded 90 percent. Our current goal is to increase the share to more than 95 percent by 2020”, Tykkyläinen says.

Pohjolan Voima was established in 1943 to secure the supply of electricity to the forest industry. Over the years, it has grown into a diverse energy group in terms of production and ownership structure. The company’s production methods currently include nuclear power, thermal power and hydropower. The company is celebrating its 75-year journey today at a stakeholder event at Finlandia Hall in Helsinki.

Further information:

Ilkka Tykkyläinen, President and CEO of Pohjolan Voima Oyj, interview requests Päivi Sahlberg, tel. +358 50 568 1446

Riitta Larnimaa, Executive Vice President, Communications and Public Affairs, Pohjolan Voima Oyj, tel. +358 50 438 2466

Pohjolan Voima’s joint resources produce efficient and innovative energy services to our customers at cost price – skilfully, boldly, together. Our shareholders are also our customers: a wide range of Finnish industrial and energy companies. Our priorities are hydropower, thermal power and nuclear power. We generate approximately 20 per cent of all electricity produced in Finland. Our operations create well-being for all Finns. www.pohjolanvoima.fi