Caverion and Fingrid signed a EUR 15 million agreement for the renewal of the Ivalo substation in Finland
Press release
27 November 2025 at 13:00 CET
Finland's transmission system operator Fingrid Oyj and Caverion have signed an agreement worth approximately EUR 15 million for the renewal of the Ivalo substation in Northern Finland. The 220/110 kV substation, built in 1987, will be completely renewed. The project will strengthen Finnish Lapland's electricity networks and secure the area's electricity supply.
An air insulated substation will be built next to the existing substation, and the old substation will be dismantled after the new substation is commissioned. In the project, Caverion is responsible for the delivery of the new substation and the renewal of the existing equipment, the protection and automation system, as well as the control room. In addition, Caverion will install an additional main transformer on the new substation, which will improve the capacity and reliability of the substation.
The renovation of the Ivalo substation is a significant investment in the electricity infrastructure in Finnish Lapland. According to Fingrid, the Ivalo substation serves the Lapland area extensively.
"We build, renew, expand and maintain the main grid in Finland. With these measures, we ensure a reliable electricity supply throughout the country. The renewal of the Ivalo substation is an important part of this work, and it serves the entire Lapland area, both residents and businesses as well as industry”, says Oskar Nousiainen, Project Manager, Fingrid.
”We appreciate the trust and are proud to play a significant role in securing electricity supply and safe transmission of electricity in Finland. In recent years, we have built almost 30 new substations in Finland and renovated about 50”, says Kari Aalto, Business Director for Industrial Projects and Infrastructure, Caverion Finland.
Construction will begin in the spring of 2026, and the project will be completed in the summer of 2028. The current substation will remain in operation throughout the renewal, which along with cold winter conditions, requires special care and safety at the construction site.
Photo is only for illustration purposes; it is not from the Ivalo site.
Additional information for the media in Finland:
Anniina Kajasviita, Communications Manager, Caverion Finland, tel. +358 50 591 8312, anniina.kajasviita@caverion.com
About Caverion
Caverion is an expert for smart and sustainable built environments, enabling performance and people’s well-being. Customers can trust our expertise during the entire life cycle of their buildings, infrastructure or industrial sites and processes: from installation and maintenance of base and smart technologies, to managed services as well as advisory and engineering services and digital solutions.
In April 2024, Assemblin and Caverion combined to create a leading northern European technical service and installation company, Assemblin Caverion Group. Together, we are about 20,000 skilled professionals in nine countries, sharing the passion for smart and sustainable solutions. Our combined revenue amounts to SEK 41 billion (EUR 3.6 billion).
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