The Nordic Investment Bank (NIB) will lend Fortum Oyj EUR 70 million over 10 years to refurbish two hydropower plants in Sweden and one in Finland.
The investment will improve safety, repair and renew the dam and spillway structures and extend the life span of existing hydropower plants in Imatra, Finland, and Långströmmen in Jämtland, Sweden.
All hydropower plants were built between 1920 and 1960. The refurbishment includes the repair and reinforcement of dam structures and gates, expansion of spillway capacity, addition of new bride decks, as well as the renewal of electrical systems. The project will extend the lifetime of the dam structures with approximately 50 years, enabling continued renewable electricity generation.
The investments will upgrade the reservoirs of the power stations to improve the operational security of the units. It will not bring any new capacity to the network, however it will contribute to the security of supply and maintains efficient operation of the electricity market in NIB’s member countries.
