Suvic Oy Announces Major Solar Park Contract in Finland

Introduction to Suvic Oy's New Contract

Suvic Oy, a subsidiary of Dovre Group Plc, has embarked on an ambitious project that is set to enhance the landscape of renewable energy in Finland. The company has recently signed a conditional EPC (Engineering, Procurement, and Construction) contract to develop a significant solar park. This project, which boasts a capacity of 100 megawatt-peak (MWp), demonstrates Suvic's commitment to advancing sustainable energy solutions.

Details of the Solar Park Project

Contract Specifications

The newly signed contract is contingent upon the issuance of a “Notice to Proceed” (NTP), which is anticipated to be granted by late February of the following year. The financial value of this contract is estimated at approximately €55 million. The agreement encompasses a comprehensive turnkey solution for both the solar park and its associated substation. Construction activities are projected to begin in March of the following year, with an expected completion and handover to the client by autumn 2026.

Construction Timeline and Deliverables

Suvic Oy's robust experience in the construction of industrial-scale solar facilities stands as a cornerstone of this project. Previously, the company has successfully built a 32 MW solar power plant in Lakari, Rauma, and is currently developing another facility in Lapua, which is expected to generate around 80 gigawatt-hours of electricity annually. This expertise will undoubtedly contribute to the successful execution of the new solar park project.

Suvic Oy's Commitment to Renewable Energy

Renewable energy construction is at the heart of Suvic Oy's operations. The company, founded in Oulu in 2017, focuses on integrating innovative practices in design, construction, and project management to enhance efficiency and sustainability. With several ongoing projects across the Nordic countries, Suvic continues to solidify its reputation as a leader in the renewable energy sector. Current undertakings include various wind farm projects in partnership with notable entities such as Prime Capital and Renewable Power Capital Ltd.

Market Impact and Future Prospects

The launch of this solar park not only strengthens Suvic Oy’s portfolio but also aligns with the global shift towards renewable energy sources. As the demand for greener solutions rises, companies like Dovre Group Plc (Helsinki:DOV1V) and its subsidiaries are well-positioned to lead the charge in sustainable project development. With an estimated sales projection of 88 to 93 million euros for the next fiscal year and a workforce of around 200 employees, the group is poised for continued growth and innovation in the renewable energy sector.

Conclusion

The conditional contract signed by Suvic Oy for the construction of a 100 MW solar park marks a significant milestone in Finland's renewable energy landscape. The project's commencement is eagerly anticipated as it promises to boost the region's sustainable energy infrastructure. With a strategic focus on developing innovative energy solutions, Suvic Oy is not only advancing its business interests but also contributing positively to global sustainability efforts.

Frequently Asked Questions

What is the capacity of the solar park being constructed by Suvic Oy?

The solar park will have a capacity of 100 megawatt-peak (MWp).

When is the expected start date for the construction of the solar park?

Construction is expected to begin in March of the following year.

What is the financial value of the EPC contract?

The contract is valued at approximately €55 million.

Where did Suvic Oy originate?

Suvic Oy was founded in Oulu in 2017.

How does this project align with Dovre Group's goals?

This project aligns with Dovre Group's commitment to renewable energy development and sustainable practices.

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