Vattenfall to invest SEK 1.4 billion in hydro power

Vattenfall to invest SEK 1.4 billion in hydro power Vattenfall's Board has decided to invest approximately SEK 1.4 billion in hydro power operations in Sweden. Most of the investment will be in dam safety, while SEK 210 million has been allocated to the renovation of three power stations. Vattenfall will spend a total of SEK 1 200 million on investments in dam safety and SEK 210 million on the renewal of the Harsprånget, Grundfors and Näverede power stations. Vattenfall has examined dam safety in the light of increased dam-safety requirements. On the basis of this study, Vattenfall has drawn up an action programme in order to meet these requirements. This programme will be implemented in the period 2002-2007. Many of Vattenfall's hydro power stations were commissioned in the 1950s and 1960s and they need to be progressively renovated. One unit at each of the three stations mentioned above will now be renewed. "This is a very big investment compared to other investments in Swedish industry. Keeping the Swedish plants in peak condition is one of Vattenfall's absolutely highest priorities. Just before Christmas we also decided on a framework for future investments in nuclear power, and twelve months ago we increased investments in our networks from SEK 600 to SEK 800 million per year," says Vattenfall's President and CEO Lars Josefsson. Issued by Vattenfall's Press Office, tel: +46-8-739 50 10. For further information, please contact: Alf Lindfors, General Manager, Generation Nordic Countries, Vattenfall, telephone: 08-739 55 70, mobile: 070-531 75 75. Vattenfall's vision is to be a leading European energy company. The Nordic region, Poland and Germany are its domestic markets. Today, Vattenfall generates power and supplies energy solutions to several million customers in the Nordic region and northern Europe. The largest electricity customers are industrial plants and energy companies. Vattenfall's main products are electricity, heat and natural gas, as well as network, consulting and maintenance services. The Group's net sales in 2001 are calculated to around SEK 70 billion. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/01/20040817BIT21020/wkr0001.pdf