EPV Energy

EPV Energy is a leader in emission-free energy generation. We are aiming to be carbon neutral by 2030.

Voimajohtopylväs Vaasan Palosaaren kupeessa merialueella.

Energy at production cost price

EPV Energy generates and acquires electricity and heat for its shareholders, i.e. Finnish energy companies. EPV Energy has 70 years of experience in responsible energy generation. We focus on emission-free and reliable energy generation with determination and purpose. At EPV Energy, we have greatly improved our range of energy generation, resulting in significant reductions in carbon dioxide emissions. We aim to achieve carbon-neutral electricity generation by 2030.

EPV Energy is a leader in emission-free energy generation, for example in utilising wind power and domestic forest energy. In line with our strategy, we will continue our determined efforts to achieve zero-emission energy generation also in the future.

In 2021, the Group’s total power procurement was 4 terawatt-hours. This corresponds to 5% of the total electricity consumed in Finland. Last year, a larger proportion of energy than ever was generated emission-free.

We produce and supply energy for our shareholders at production cost price, meaning that we do not try to make a profit. This is known in Finland as the Mankala principle and it enables extensive energy projects, while ensuring low production costs.

  • Founded: 1952
  • Turnover: 678 MEUR (2022)
  • Number of employees: 122 (2022)

The EPV Energy Group has subsidiaries and affiliated companies in whose governance and supervision EPV actively participates. Nevertheless, the Group’s subsidiaries and affiliated companies have their own administrative bodies. The Group is divided into four business areas.

Group structure

EPV Power

EPV Akkuhybridi Oy
Pohjolan Voima Oyj 5,5 %
Teollisuuden Voima Oyj 6,6 %
Voimapiha Oy 33,3 %

EPV Wind Power and Solar Power

EPV Infra

EPV Alueverkko Oy 100 %
EPV Siirtoverkko Oy 100 %
EPV Tase Oy 100 %
EPV Teollisuusverkot Oy 90 %
Suomen Energiavarat Oy >90 %
Vaskiluodon Teollisuuskiinteistöt 100 %

Shareholders and interests

Board of Directors and Management Team

Members of the Board:

Olli Arola, director
Stefan Damlin, CEO
Jaana Eklund, Vice President, General Counsel (Vice Chairman of the Board)
Jouni Haikarainen, CEO
Vesa Hätilä, CEO
Heikki Lappalainen, CEO
Anders Renvall, CEO
Joakim Strand, Member of the Parliament of Finland (Chairman of the Board)
Markku Vartia, director
Hans-Alexander Öst, director

Deputy members:

Esa Ala-Honkola, CEO
Jari Lepistö, CEO
Kari Roos, director
Markus Tuomala, director
Jukka Ylitalo, CEO


Management Team:

Rami Vuola (CEO of EPV Energy)
Frans Liski
Reima Neva
Niko Paaso
Maija Suutarinen
Mats Söderlund

Would you like to know more?

Read EPV’s Annual Report for 2022.