Rami Vuola

"Energy politics in Finland must be made more stable"

In 2016, EPV Energy completed several large projects. We decided to continue the company’s strategy of moving towards emission-free power generation. We will also work hard to improve our operational capabilities in the future.

CEO's review

Towards emission-free energy generation

EPV Energy has more than 60 years’ experience of responsible energy generation. We continue to focus on emission-free generation with determination and purpose.

<div class="morgan-chart" id="morgan_chart_51" data-chart-title="EPV Energy's specific CO2 emissions" data-chart-type="line" data-chart-series='[{"name":"g\/electricity kWh","data":[340,340,340,361,350,352,358,311,282,251,232,194,149,119,89,88,80,77,75,73,69,67,65,62,61,11]},{"name":"Average of CO2 emissions in the EU 2014","data":[275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9,275.9],"enableMouseTracking":false}]' data-hide-markers="0" data-hide-line-markers="1" data-series-name="" data-connector-width="0" data-distance="-60" data-y-title="" data-hide-chart-title="0" data-x-axis='["2005","2006","2007","2008","2009","2010","2011: R\u00f6ytt\u00e4 wind power farm
\n","2012: Increased use of biomass in Tornio and Sein\u00e4joki
\n","2013: Gasification plant in Vaasa
\n","2014: Swedish hydropower
\n","2015: Torkkola wind power farm and expansion of R\u00f6ytt\u00e4 wind power farm. Decreased coal condensing power capacity, Kristiina 2 and Tahkoluoto
\n","2016: Santavuori wind power farm
\n","2017","2018: Mets\u00e4l\u00e4 wind power farm\t
\n","2019: Olkiluoto 3","2020: Hydropower leasing in Norway ceases. Increased wind power capacity: Teuva and Simo","2021: Increased wind power capacity: N\u00e4rpi\u00f6","2022: Increased wind power capacity: Laihia","2023","2024: Solar power farm I","2025: Increased wind power capacity: Kuusamo I","2026","2027: Increased wind power capacity: Kuusamo II","2028: Solar power farm II","2029","2030: Replacement of CHP bio power plants in Vaasa and Sein\u00e4joki"]' >
EPV Energy

Electricity generation

In 2016, the Group's electricity generation amounted to 4,043 GWh.


0.0% Hydropower 1241 GWh
0.0% Wind Power 321 GWh
0.0% Wood + other bio 261 GWh


0.0% Hydropower 1241 GWh
0.0% Wind Power 321 GWh
0.0% Wood + other bio 261 GWh
0.0% Nuclear Power 1202 GWh
0.0% Industrial Gas 167 GWh


2.6% Hydropower 103 GWh
0.0% Wind Power 321 GWh
0.0% Wood + other bio 261 GWh
0.0% Nuclear Power 1202 GWh
0.0% Industrial Gas 167 GWh
0.0% Peat 287 GWh


0.0% Coal 560 GWh
0.0% Other foss. 4 GWh

270,7 M€


63,6 M€



Equity ratio


Read the financial statement
Financial statement 2016

Group structure and business areas

The EPV Energy Group includes a number of subsidiaries and joint ventures, and EPV actively participates in the management and supervision of them. However, the subsidiaries and joint ventures have their own administrative organs. The group is divided into four business areas.

EPV Power

We focused on emission-free energy generation in EPV Power’s business area. What is needed now is for decision-makers to secure the adequacy of electricity in Finland.

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EPV Heat

Energy generation grew and operations were reorganised in EPV Heat’s business area.

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EPV Wind

The completed wind power farms in the EPV Wind business area generated power very successfully despite extremely low winds over the year. The Santavuori wind power farm was completed ahead of schedule, and the large Metsälä infrastructure project progressed according to plan.

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EPV Infra

Our long-term efforts in the EPV Infra business area paid off, as evidenced by the increased reliability of supply of our electricity transmission. We also revised our connection principles for electricity grids to make them more customer friendly.

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Board of directors' report

The turnover of the EPV Energy Group was MEUR 270.7. The increased turnover is due to the increased wind power generation and the growth of network operations and biofuel sales.