YIT to construct a hydropower plant in Western Norway

YIT Corporation Investor News September 28, 2018 at 1:00 p.m.

YIT SKL hydropower plant
YIT SKL hydropower plant

YIT and Sunnhordaland Kraftlag AS, a Norwegian power company, have signed an agreement on constructing a new hydropower plant in the Hordaland County in Western Norway. The value of the contract is approximately EUR 33 million. The construction will begin in October 2018, and it will be completed in December 2021. The project is booked in the order backlog of the third quarter. The new power plant “Løkjelsvatn Kraftverk” will be located close to the city of Etne. The contract covers the construction of a power plant, including water intake, power station and approximately 5 kilometres of tunnel. 

YIT has earlier constructed a similar hydro power plant in Norway, and has also built power plants and been involved in power plant projects with foundation engineering or renovation work in Sweden and in Finland. “We have a strong position in infrastructure construction solutions and services in the Nordic and Baltic countries. This contract is a good example of projects where our special expertise in energy sector construction plays a crucial role,” says Harri Kailasalo, Executive Vice President, Infrastructure projects at YIT.

For further information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi

Harri Kailasalo, Executive Vice President, Infrastructure projects, YIT Corporation, tel. +358 400 401 538, harri.kailasalo@yit.fi


Hanna Jaakkola

Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving.  Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our combined annual turnover for 2017 was over EUR 3.8 billion. YIT Corporation's share is quoted on Nasdaq Helsinki Oy. www.yitgroup.com