8 Jul 2019
EUR 28.29 million
Infrastructure, transportation and telecom
|Date of agreement:||26 Mar 2007|
|Amount in EUR:||EUR 20 million|
|NACE sector / loan type:||Electricity, gas, steam and hot water supply|
|Business area:||Energy and water|
The loan totalling EUR 20 million is aimed at financing the company's investment programme with the purpose of improving the capacity and efficiency of Finland's national electricity grid. Particular emphasis will be put on improving the security and environmentally benign line structures. The programme includes the enhancement of the 400 kV transmission line Olkiluoto-Huittinen, an increase in the capacity of the 400 kV transmission line Ulvila-Kangasala, and the construction of the 110 kV transmission line Koria-Orimattila. Established in 1997, Fingrid is the owner and operator of the national electricity grid in Finland. The investment will improve the power transmission infrastructure in Finland. The reliability of the power transmission is of vital importance for Finland's competitiveness, particularly for the development of the power-intensive industries in the country.
The projects have received all necessary certificates and approvals from the authorities involved. The electromagnetic radiation levels are expected to be well below the limits permitted in the national and EU legislation. The biodiversity of the affected areas is not threatened by the proposed projects; neither are the few protected species living in the areas.