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Teollisuuden Voima

Finnish nuclear power company

Field	Value
name	Industrial Power Corporation
native_name	Teollisuuden Voima Oyj
logo	Teollisuuden_Voima_Logo.jpg
logo_size	250px
type	Public limited company
foundation
founder	16 Finnish industrial and power companies
location_city	Eurajoki
location_country	Finland
key_people	Philippe Bordarier (President and CEO)
Ilkka Tykkyläinen (Chairman)
industry	Nuclear power
revenue	€897 million (2024)
owner	Pohjolan Voima (58.5%), Mankala (8.3%), Kemira (0.9%), Fortum Power and Heat (25.8%), (6.6%)
num_employees	1082 (end of 2024)
homepage

Ilkka Tykkyläinen (Chairman)

Teollisuuden Voima Oyj (TVO; , Industrial Power Corporation) is a Finnish nuclear power company owned by a consortium of power and industrial companies. The biggest shareholders are Pohjolan Voima and Fortum.

TVO operates on a cost-price principle. It sells electricity to its shareholders at the price of the incurred costs. Thus, the profit of the company is normally zero. In 2024, TVO produced about 28% of the electricity produced in Finland.

Olkiluoto

The company operates Olkiluoto Nuclear Power Plant, which consists of two BWRs (boiling water reactors), an EPR (European Pressurized Reactor) which reached full operational capacity in 2023, and formerly one half of a coal-fired power plant along with a wind farm.

The third reactor at Olkiluoto was expected to be ready in May 2009, but significant delays pushed commercial availability to May 2023. TVO has filed compensation claim for delays, and Areva-Siemens have counter-claimed against TVO. Arbitrators at the International Chamber of Commerce are considering the claims.

On 21 April 2010, the Government of Finland decided to grant a permit for the construction of a fourth reactor at Olkiluoto. |url-status = dead |archive-url = https://web.archive.org/web/20110613090534/http://www.neimagazine.com/story.asp?sectioncode=132&storyCode=2056166 |archive-date = 2011-06-13 The decision was approved by the Parliament on 1 July 2010. | archive-url = https://web.archive.org/web/20160303185447/http://uk.reuters.com/article/idUKLDE6600ED | url-status = dead | archive-date = March 3, 2016 In 2014 this permit expired, and was not renewed by the government.

In January 2015 TVO announced plans to save around $17.7 million per year through 'efficiency-related structural changes' which are expected to cause up to 110 job cuts. The CEO of TVO, Jarmo Tanhua, explained the reasons as:

An October 2016 story in the Süddeutsche Zeitung reported that TVO called on Siemens to take financial responsibility for the completion of unit3 of the Olkiluoto Nuclear Power Plant, because its project partner, the French Areva Group, was restructured by the French government. | access-date = 2016-11-01 | trans-title = Nuclear power: How Siemens could become a nuclear enterprise again | access-date = 2016-11-01

References

"Company". Teollisuuden Voima.
"Management Group". Teollisuuden Voima.
"Board of Directors". Teollisuuden Voima.
"2024 Report of the Board of Directors, Sustainability Statement and Financial Statements". Teollisuuden Voima.
"Teollisuuden Voima Oyj". The National Board of Patents and Registration and the Tax Administration, Finland.
"Teollisuuden Voima Oyj – Articles of Association". Teollisuuden Voima Oyj.
"TVO in brief". Teollisuuden Voima.
Geert De Clercq. (1 April 2015). "Breakthrough in Areva-TVO nuclear dispute seen this year - sources". Reuters.
(12 January 2015). "TVO announces restructuring plans". Nuclear Engineering International.

Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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