Shareholders granted TVO 300 million euro shareholder loan commitment

A shareholder loan commitment and related new shareholder loan agreements, totaling EUR 300 million, have been signed today in the Extraordinary General Meeting of Teollisuuden Voima Oyj (TVO). All of the shareholders of TVO undersigned the agreement and commitment related to the shareholder loan arrangement in accordance with the proposal made by the Board of Directors of TVO on 27th February 2013.

By means of the new shareholder loan commitment TVO prepares to maintain a sufficient level of equity for the Olkiluoto 3 project, cope with possible additional delays and possible additional costs in the finalization of the project.

- OL3 will be a world class reference for a new kind of nuclear power plant with enhanced safety features. It is extremely important now that the plant supplier AREVA-Siemens consortium allocates all of its vigor and capabilities to the project to get OL3 to electricity production as soon as possible, says Mr. Jarmo Tanhua, the President and CEO of TVO.

AREVA-Siemens consortium is constructing the OL3 nuclear plant unit under a fixed-price turnkey contract. TVO is prepared for the possibility that the start of the regular electricity production of the plant unit may be postponed until year 2016.

The shareholders of TVO are EPV Energia Oy, Fortum Power and Heat Oy, Karhu Voima Oy, Kemira Oyj, Oy Mankala Ab and Pohjolan Voima Oy.

For further information, please contact:

Jarmo Tanhua, President and CEO, Teollisuuden Voima Oyj, tel. +358 2 8381 2000.

Teollisuuden Voima Oyj is a Finnish nuclear power company founded in 1969 for safe and reliable production of electric energy to the Finnish society at a reasonable price. The nuclear power generated at TVO's Olkiluoto plants accounted in 2012 for ca. one sixth of the total energy consumption in Finland. Clean energy production not only benefits the Finnish society but also contributes to the global reduction of environmental impact.