EPV Energy Ltd (EPV) is a Finnish energy company that generates and acquires electricity and heat and supplies them for its shareholders, i.e. Finnish energy companies, at a production cost price. This is known as the Mankala principle and it enables shareholders to engage in extensive energy projects, while ensuring low production costs.

EPV Energy has almost 70 years of experience in responsible energy generation. We invest in emission-free and reliable energy generation with determination and purpose. At EPV Energy, we have greatly improved our range of energy generation, resulting in significant reductions in carbon dioxide emissions. We aim to achieve carbon-neutral electricity generation by 2030.

The company is a leader in emission-free energy generation, for example in utilising wind power and domestic forest energy. In line with EPV Energy’s strategy, we will also continue our purposeful work towards emission-free energy generation in the future.

In 2020, the Group’s total power procurement was 3,850 GWh. This corresponds to 5% of the total electricity consumed in Finland. Last year, a larger proportion of energy than ever was generated emission-free:

  • Nuclear power 1,224 GWh
  • Hydropower 438 GWh
  • Wind power 868 GWh
  • Biofuels 198 GWh
  • Coal 178 GWh
  • Peat 321 GWh
  • Industrial gases 167 GWh
  • Other fossil fuels 2 GWh
  • Market price electricity 454 GWh

In 2020, the average carbon dioxide (CO2) emissions of the electricity supplied by EPV Energy were 133.6 g/kWh.

The average emissions of the electrical energy acquired through generation shares in 2020 were:

  • Nitrogen oxide emissions 120.0 mg/kWh
  • Sulphur dioxide emissions 88.7 mg/kWh
  • Particle emissions 3.8 mg/kWh

EPV Energy’s specific CO2 emissions

Almost 70 years of experience in responsible energy generation

Founded in 1952, EPV Energy was first known as Etelä-Pohjanmaan Voima. The company’s roots are in Ostrobothnia, where the region’s electricity power plants opted to join forces as the demand for electricity grew. Over the decades, EPV Energy has expanded its operations to cover the whole country and, via an affiliated company, also into Sweden.


Equity ratio




Assets MEUR (balance, assets)
Non-current assets531.73626.86630.49625.12643.49
Non-current receivables
Current receivables76.0475.0866.2069.9580.74
Receivables, marketable securities,
cash and cash equivalents
Liabilities MEUR (balance, liabilities)
Minority interest
Non-current liabilities
Current liabilities