Economic responsibility
We plan our finances carefully and monitor economic developments.
Annual Report 2021
70-year-old EPV Energy is a pioneer in the production of emission-free and renewable energy. The Group's goal is to be completely carbon neutral by 2030.
Welcome to read about EPV's eventful year and the revolution of new electricity.
CEO’s statement
The New Electricity Revolution® in full swing
EPV Energy kicked off 2021 with the launch of the New Electricity Revolution® strategy. At the heart of the strategy is zero-emission energy production, towards which we took significant steps during the year. We took decisive steps in nuclear power generation, increased our wind power production capacity and continued to explore technologies for industrial solar power generation and electricity storage. These technologies will play a crucial role in ensuring the security of future energy production.
Towards an emission-free future
Turnover
440 M€
Investments
122 M€
Equity ratio
41.2%
Personnel
118
The highlights of 2021
Together with other players in the energy sector, EPV is moving rapidly towards carbon neutral production – significant investments were made again in 2021 to help us achieve our emissions reduction targets.
The New Electricity Revolution® strategy was launched
The new strategy focuses on the generation and storage of zero-emission electricity, as well as the management of its consumption, using new technologies.
To achieve our emissions targets, EPV has invested in wind power, solar power, and innovative electricity storage solutions.
Olkiluoto 3 was activated; hydrogen project is progressing
The Olkiluoto 3 reactor was activated for the first time in Decemeber. Nuclear power now accounts for 45% of EPV’s electricity production.
The goal of the hydrogen, pumped-storage and hydroelectricity projects is more efficient storing of electrical energy.
The Teuva wind farm was completed
EPV’s wind power production capacity increased significantly with the completion of Paskoonharju wind park in Teuva.
The monitoring of solar power technology and the planning of Heinineva solar power plant continued.
Electrification of heat
The new electric boiler was commissioned in Vaskiluoto. The Seinäjoki electric boiler and district heating battery are currently under construction.
More transmission capacity
New wind power connection contracts were signed and investments in the major network extension in Tornio were made.
A new balance model
EPV switched to the model of one balance. This model will significantly facilitate and simplify the commercial balancing of electricity production and consumption.
EPV's financial year
Financial Statements 2021
The Group’s finances developed favourably in 2021. Our turnover increased and many new investments were made in different key technology areas.
Corporate Responsibility Report 2021
We are constantly investing in economic, ecological, and social responsibility.
Ecological responsibility
Our goal is to be carbon neutral by 2030.
Social responsibility
Our goal is to build the safest possible work environment.
