On Monday 5 December, the European Commission authorised a €26.3 million Finnish aid measure to support Suomen Energiavarasto Oy (‘SEVO’) in its project to build an underground hydroelectric pump storage facility.
Finland notified of its plans to assist SEVO, a subsidiary of EPV, in converting a non-active mine in Pyhäsalmi into a pumped hydroelectric storage facility.
The facility will participate in the electricity spot markets as well as electricity balancing markets. It will...