- EUR 150 million EIB loan for the replacement of medium- and low voltage cables, substations and transformers.
- Financing finalised to improve security of supply for Elenia’s customers, by replacing overhead cables with underground lines in various regions of Finland.
Elenia, a distribution system operator in Finland, has signed a EUR 150 million loan with the European Investment Bank (EIB), guaranteed by the European Fund for Strategic Investments (EFSI), a key element of the Investment Plan for Europe. The supported investments focus on improving security and quality of power supply by weatherproofing Elenia’s electricity distribution network. This entails the replacement of overhead lines by underground ones, as well as the development of multiple distribution facilities, including cables, substations and transformers, as well as metering equipment.
More specifically, the company’s investment programme includes the replacement of ageing medium and low voltage overhead lines with underground cables. This makes the network less susceptible to extreme weather, in-line with the Finnish “Electricity Market Act”, which requires that by 2028 power cuts cannot last more than 6 hours in urban areas and 36 hours in rural areas.
The investments are geographically dispersed in the southern and central part of Finland, covering the regions of Häme, Pirkanmaa, Central Finland, Southern and Northern Ostrobothnia.
Elenia Oy is Finland’s second-largest electricity distribution system operator (DSO), with a market share of 12%. The company has operations in more than 100 municipalities with approximately 70,200 km of distribution network.