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UPM committed to increase low-emission energy production; supports decision on nuclear power unit

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UPM committed to increase low-emission energy production; supports decision on nuclear power unit

June 30, 2010 - 19:58
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HELSINKI, July 1, 2010 (Press Release) -UPM's Senior Vice President for Energy Anja Silvennoinen is satisfied with the Finnish Parliament's positive decision concerning Teollisuuden Voima's (TVO) Olkiluoto 4 nuclear power unit. "It is positive that the Finnish Parliament has made an energy decision that supports the Finnish industry's operational environment and employment".

The Parliament's decision opens up the possibility to increase the share of low-emission and cost efficient electricity, but requires significant financial investments and commitment from the companies receiving the permits and their shareholders.

"UPM is committed to increase its low-emission energy production and wants to do it in a versatile way. In addition to nuclear power, hydropower and renewable forest energy are very important energy sources for us", says Silvennoinen.

Silvennoinen states that although UPM is an energy producer it also is a significant energy consumer. "In Finland, the future plans of different businesses are dependent on the availability of competitive raw-material and energy. Production of advanced new forest industry products, like biofuels, consumes a lot of electricity. More electricity is needed in addition to the steam and heat production."

Furthermore efficiency improvements in traditional production lines can see increased use of electricity. "Fulfilling the electricity needs in our own production is out first priority. The possibility to take part in the building of new base load power generation is a significant factor for the company's future in Finland", Silvennoinen adds.