Teollisuuden Voima Oyj (TVO)
We were advisers to TVO in Finland on the approach to private sector funding for nuclear development. Finland has a high dependency on energy to fuel its wood pulp industry. TVO is a non-listed public company founded in 1969 to produce electricity for its company shareholders at cost price. It operates on mutual principles for its industrial and energy utilities shareholders.
PwC’s involvement on the funding strategy followed an earlier assessment for TVO of its options for major power expansion. Once the nuclear energy option had been decided on, we were asked to look at how TVO could put together a funding package and how it could best access the market to get the skills it needed to get the new power station built. Our work included:
- Analysis of the access to private sector finance;
- Preparing a project implementation agreement in preparation for discussions with shareholders and other interested stakeholders.