Caverion Corporation Investor news 17 August 2023 at 9:00 a.m. EEST
HELSINKI, Aug. 17, 2023 /PRNewswire/ -- Fingrid has chosen Caverion as its contractor for the modernisation of the Vuolijoki substation in Kajaani, Finland. The modernisation will improve the substation's operational reliability as power transmission increases. The project includes the expansion of the current 400 kV and 110 kV assembly and the renewal of the safety and control system. The total value of the agreement is approximately EUR 15 million.
"The renovation of the Vuolijoki substation is part of the investment project for strengthening the so-called Lake Line and, as a result, significantly boosting the north-south electricity transmission capacity in Finland. The substation will serve the residents of the Kainuu region in particular, enabling investments in industry and production. The challenging modernisation and expansion efforts of the substation are critically important for the schedule of the overall project, which is why we're happy to get to work with the top experts of Caverion," says Daniel Kuosa, Head of Substation Projects at Fingrid.
"Securing power transmission is a vitally important function for the entire society. We are proud to offer our solid expertise to Fingrid, the company responsible for the Finnish main grid. It is important to us to be involved in securing operational reliability as power transmission increases. Once again, we thank Fingrid for their trust in our expertise," says Elina Engman, Head of Caverion Industry division.
The project will start in August 2023 and it is expected to be completed in February 2026.
Further information: Elina Engman, Head of Caverion Industry, firstname.lastname@example.org
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