DLA Piper advises Teollisuuden Voima Oyj in connection with investment loan agreement

We have advised Teollisuuden Voima Oyj (TVO) in connection with EUR 75 million investment loan agreement provided by the Nordic Investment Bank (NIB). The term of the loan is 10 years.

The loan finances key investments aimed at maintaining and improving safety measures and ensuring the possible extended operational lifetime of two nuclear power plant units, Olkiluoto 1 and Olkiluoto 2 in Finland. 

Both plant units currently produce a net electrical output of 890 megawatts and are a vital part of Finland’s national strategy to achieve carbon neutrality by 2035. Last year, Olkiluoto produced about 28 percent of all electricity consumed in Finland. 

Teollisuuden Voima Oyj (TVO) is a non-listed public limited liability company. TVO’s majority shareholder is Pohjolan Voima Oyj. TVO is a joint venture of Pohjolan Voima.

The DLA Piper team was led by partner Kristiina Hirva.