Helsinki, 2014-06-05 09:00 CEST (GLOBE NEWSWIRE) --
CAVERION CORPORATION INVESTOR NEWS JUNE 5, 2014 at 10:00 A.M. EEST
Caverion to implement the power capacity increase of Kemijoki Oy’s Seitakorva hydropower plant
Caverion has signed an agreement on services related to increasing the power capacity of Kemijoki Oy’s Seitakorva hydropower plant. The project includes the renewal of the plant’s machinery and related electricity and automation systems and covers project management and project execution. As the main contractor in the project, Caverion is responsible for design of overhauls, industrial installations and management on site, among other tasks.
The project is part of the more extensive power capacity increase and basic overhaul of Kemijoki Oy’s machinery. In addition to productivity, the investments improve the usability and environmental footprint of the plants.
Preparations for the project site are already underway. The installation work will commence in late summer and is due for completion in November 2014. Approximately fifty Caverion employees will take part in the installation work, representing the company’s strong competence in the industry client segment.
“The Seitakorva project is an excellent opportunity for our units in Northern Finland to demonstrate and utilise Caverion’s expertise,” says Erkki Huusko, Managing Director of Caverion Industria Ltd.
“The project is of high significance for Kemijoki Oy as it will make Seitakorva’s machinery one of the largest hydropower machines generating balancing power in Finland. In the new turbine rotation wheel water is now the lubricant instead of oil, making the plant increasingly eco-friendly,” says Tuomas Timonen, President and CEO of Kemijoki Oy.
“The joint project deepens our strategic partnership with Caverion. It combines the expertise of both companies and thus strengthens competence,” continues Timonen.
Kemijoki Oy is the most significant generator of hydropower in Finland. The company owns 20 hydropower plants, of which 16 are located in the Kemijoki water system, two in Lieksanjoki and two in Kymijoki. In addition, it regulates the Lokka and Porttipahta reservoirs and Kemijärvi and Olkkajärvi. The total power rating of the power plants exceeds 1,100 MW. In 2013, the company’s hydropower plants generated electric energy to a total of 4,148 gigawatt-hours, which was approximately one third of the domestic electricity generated through hydropower.
A dditional information: Sanna-Mari Laitinen, Communications Manager, Caverion Industria Ltd, tel. +358 50 390 4443, sanna-mari.laitinen@caverion.fi Reima Mäkinen, Project Manager, Kemijoki Oy, tel. +358 20 703 440, reima.makinen@kemijoki.fi
CAVERION CORPORATION
Caverion designs, builds, operates and maintains user-friendly and energy-efficient technical solutions for buildings and industries. Our services are used in offices, retail properties, housing, public premises, industrial plants and infrastructure, among other places. We aim to be a leading European provider of advanced and sustainable life cycle solutions. Our strengths include technological competence and comprehensive services, covering all technical disciplines throughout the life cycle of the property and industrial plant. Caverion was established through the demerger of Building Services and Industrial Services businesses from YIT Group in June 2013. Our revenue for 2013 amounted to approximately EUR 2.5 billion. Caverion has nearly 18,000 employees in 13 countries in Northern and Central Europe. Caverion’s shares are listed on NASDAQ OMX Helsinki. www.caverion.com
