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Pohjolan Voima Oyj's joint venture Teollisuuden Voima Oyj announces that the plant supplier updates the schedule of OL3 project

POHJOLAN VOIMA OYJ STOCK EXCHANGE RELEASE 8 NOVEMBER 2019

Pohjolan Voima Oyj's joint venture Teollisuuden Voima Oyj announces that the plant supplier updates the schedule of OL3 project

Pohjolan Voima Oyj's joint venture Teollisuuden Voima Oyj (TVO) announces that the plant supplier Areva-Siemens Consortium will perform a schedule review and provide Teollisuuden Voima Oyj by an overall rebaseline schedule for the final phases of the project in December.

Based on the information provided by the plant supplier the project is now six weeks behind the schedule. According to the plant supplier the final verification of the mechanical, electrical and the I&C systems has to be done carefully and with high quality.

According to the plant supplier’s schedule provided in July, nuclear fuel was planned to be loaded into the reactor in January 2020, the first connection to the grid was planned to take place in April 2020, and the start of regular electricity production of the OL3 EPR nuclear power plant unit was planned to take place in July 2020.

- Although, the completion of the plant unit will be further delayed, we are very close to reach the fuel loading phase and start-up of the OL3 EPR unit. TVO is currently preparing fuel loading application, says Jouni Silvennoinen, TVO's Director of the OL3 EPR Project.

OL3 plant supplier consortium is constructing the plant unit under a fixed-price turnkey contract. The supplier consortium companies, AREVA GmbH, AREVA NP SAS and Siemens AG, have joint and several liability for the contractual obligations until the end of the guarantee period of the plant unit.

TVO, a 57% owned joint venture of PVO, produces electricity with two nuclear power plant units located in Olkiluoto, Eurajoki (OL1 and OL2).

Distribution:
Nasdaq Helsinki
www.pohjolanvoima.fi

Further enquiries:
CEO Ilkka Tykkyläinen, Pohjolan Voima Oyj, +358 40 670 6056, ilkka.tykkylainen@pvo.fi
CFO Minna Laakso, Pohjolan Voima Oyj, +358 40 506 0802, minna.laakso@pvo.fi

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