Helsinki, 2015-04-01 09:00 CEST (GLOBE NEWSWIRE) --
CAVERION CORPORATION INVESTOR NEWS APRIL 1, 2015 AT 10:00 EEST
Caverion and PVO-Vesivoima to continue partnership in hydropower plant maintenance in Finland
Caverion and PVO-Vesivoima Oy have extended their partnership agreement on the operation, maintenance and development of PVO-Vesivoima’s hydropower plants at Kemijoki and Iijoki rivers in Northern Finland. The agreement, which entered into force in January 2015, is valid for three years and covers technical maintenance, managed operations and advisory services. The parties have agreed not to disclose the value of the agreement.
Caverion is responsible for the operation, inspections, measurements and preventive maintenance of the hydropower plants and water regulation systems during operational time, annual maintenance of process equipment as well as service and repairs of building systems in the properties. The agreement is a continuation of the partnership that began in 2013.
Pohjolan Voima has twelve hydropower plants in its ownership and partial ownership at Iijoki, Kemijoki, Kokemäenjoki and Tengeliönjoki rivers, of which the agreement covers seven plants. Pohjolan Voima’s share of the total combined output of the plants is 450 megawatts, representing about 15 per cent of the total output of all hydropower plants in Finland.
“I am very happy that our cooperation continues, as it shows that PVO-Vesivoima still considers us a trustworthy partner. Thanks to this agreement, we will be even better equipped to serve also other clients in Northern Finland,” says Tapio Waris, head of Maintenance Services at Caverion’s Industrial Solutions division.
“With the partnership agreement, our aim has been to improve cost-efficiency, ensure long-term competence and develop our operations and flexibility. We have already reached some of these objectives set for the cooperation, and we will continue to develop the operations together,” says Pertti Pietinen, Managing Director of PVO-Vesivoima.
PVO-Vesivoima belongs to Caverion’s Industry client segment.
Further information:
Caverion Industrial Solutions, Sanna-Mari Laitinen, Communications Manager, tel. +358 50 390 4443, sanna-mari.laitinen@caverion.fi
PVO-Vesivoima Oy, Pertti Pietinen, Managing Director, tel +358 40 581 4726, pertti.pietinen@pvo.fi
Caverion designs, builds, operates and maintains user-friendly and energy-efficient technical solutions for buildings and industries. Our services are used in offices, retail properties, housing, public premises, industrial plants and infrastructure, among other places. We aim to be a leading European provider of advanced and sustainable life cycle solutions. Our strengths include technological competence and comprehensive services, covering all technical disciplines throughout the life cycle of the property and industrial plant. Our revenue for 2014 amounted to approximately EUR 2.4 billion. Caverion has about 17,000 employees in 12 countries in Northern, Central and Eastern Europe. Caverion’s shares are listed on Nasdaq Helsinki. www.caverion.com