1952 – The Olympic year and the decision to cooperate – Etelä-Pohjanmaan Voima Oy
Etelä-Pohjanmaan Voima Oy (now EPV Energy Ltd) was founded in 1952 to generate and acquire electricity for municipal power plants in Ostrobothnia. The company’s task was to build and operate power plants, and to transmit the electricity required by the shareholders. The company also purchased and sold energy acquired from other sources.
1958 – Finland’s largest condensing power plant
For the purposes of the task at hand, a coal-fired power plant generating 38 MW was built in Vaskiluoto, Vaasa, in 1958. Upon completion, this was the largest condensing power plant in Finland. In 1997, operations at Vaskiluoto 1 – as the plant became known as – were discontinued.
The 1960’s – A time of cooperation – Vaskiluodon Voima Oy
As the demand for electricity increased, higher generation capacity was required. In order to meet the demand, EPV established Vaskiluodon Voima Oy, a generation company based on equal share ownership, with Finnish industry-owned Pohjolan Voima Ltd in the late 60’s. Under the new name, a new steam power plant running on heavy fuel oil with an electricity capacity of 160 MW, and a heat capacity of 90 MW, was built in Vaskiluoto in 1972. After a period of having the turbine connected to a coal-firing boiler, this power plant (known as Vaskiluoto 3) is once again running on heavy fuel oil. The power plant is currently under the ownership of PVO-Huippuvoima Oy.
1970’s – New technology – nuclear power
A significant step in the history of the company was taken immediately after the completion of Vaskiludon Voima oil power plant. The company made a broadminded decision and became partners with Teollisuuden Voima (Industrial Power Corporation). EPV consequently became part of the construction of a nuclear power plant with two reactors.
The 2000’s – A sustainable operations model
Over the last five decades, the operations have expanded and changed. The cooperation with Northern Power Company Ltd. has intensified, and EPV has also become a significant owner of the Northern Power Company generation shares.
Currently, the company obtains approximately 4 500 GWh electricity, equivalent to about 4 percent of the total electricity consumption in Finland. At present, EPV Energy Ltd (previously Etelä-Pohjanmaan Voima Oy) focuses on the management of power generation holdings, and the majority of the company’s previous operations have been outsourced. However, the business idea of supplying the shareholders with competitive electricity has remained unchanged throughout the half century of the company’s history and it is a principle the company still adheres to.