EUR 12 million aid for EPV’s solar park in Lapua

The Finnish Ministry of Economic Affairs and Employment awarded aid of EUR 12 million to the Heinineva project in Lapua.

On 15 December 2022, the Finnish Ministry of Economic Affairs and Employment awarded aid of EUR 12 million from the EU’s (NextGenerationEU) Recovery and Resilience Facility (RRF) to the Heinineva project in Lapua. The total sum of the project portfolio in the application was EUR 64.5 million.

Upon its completion, the Heinineva solar farm would be the EPV Group’s first industrial-scale solar park and one of the largest in Finland. This investment would increase EPV’s renewable electricity production by 6%. At the same time, it would significantly reduce carbon dioxide emissions.

“The novelty value of the project lies in the size of the solar park. The project will also demonstrate new types of technology developed in Finland. The aim is also to develop a forecasting model for solar power production,” says Sami Kuitunen, EPV Solar Power’s Managing Director.

The new solar farm would excellently support EPV Energy’s New Electricity Revolution® strategy, which has renewable electricity at its core. Generated from emission-free sources, new electricity is the key enabler on the road to a new zero-emission world.

The investment project is scheduled to start during 2023. The final tests and commissioning will take place in late 2025. The realisation of the park will depend on the competitiveness of the solar cell technology, the cost-effectiveness of the construction and the investment needs of the shareholders.

Archive