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 over 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 2023, the Group’s total power procurement was 4.8 terawatt-hours. This corresponds to 6% 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: 456 MEUR (2023)
  • Number of employees: 155 (2023)

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

Co-owned Power Generation

Combined Heat and Power Production and Energy Storage

EPV Akkuhybridi Oy 100%
EPM Metsä Oy 50 %
EPV Aluevarannot Oy 100 %
Raahen Voima Oy 25 %
Seinäjoen Voima Oy 100 %
Tornion Voima Oy 100 %
Vaasan Voima Oy 100 %

Renewable Energy Production

Energy Management

EPV Operations Ltd 100%
EPV Tase Oy 100%

Electricity Transmission

EPV Alueverkko Oy 100%
EPV Siirtoverkko Oy 100%
EPV Teollisuusverkot Oy 90%


Powerheat Solutions Oy 70 %
Suomen Energiavarat Oy >90%
Vaskiluodon Teollisuuskiinteistöt 100%

Shareholders and interests

Board of Directors and Management Team

Members of the Board:

Esa Ala-Honkola, CEO
Olli Arola, director
Stefan Damlin, CEO
Jaana Eklund, Vice President, General Counsel
Jouni Haikarainen, CEO (Vice Chairman of the Board)
Vesa Hätilä, CEO
Anders Renvall, CEO
Joakim Strand, Member of the Parliament of Finland (Chairman of the Board)
Riku Kananen, director
Hans-Alexander Öst, director

Deputy members:

Roger Holm, CEO
Heikki Lappalainen, 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 2023.