1 Feb 2002 – Vattenfall’s Board has decided to invest approximately SEK 1.4bn Swedish Krona ($131m) in hydropower operations in Sweden. Most of the investment will be in dam safety, while 210m Krona has been allocated to the renovation of three power stations.
Vattenfall will spend a total of 1.2bn on investments in dam safety and 210m on the renewal of the Harsprånget, Grundfors and Näverede power stations.
Vattenfall has examined dam safety in the light of increased dam-safety requirements. On the basis of this study, Vattenfall has drawn up an action programme in order to meet these requirements. This programme will be implemented in the period 2002-2007.
Many of Vattenfall’s hydro power stations were commissioned in the 1950s and 1960s and they need to be progressively renovated. One unit at each of the three stations mentioned above will now be renewed.
“This is a very big investment compared to other investments in Swedish industry. Keeping the Swedish plants in peak condition is one of Vattenfall’s absolutely highest priorities,” said Vattenfall’s President and CEO Lars Josefsson.
“Just before Christmas we also decided on a framework for future investments in nuclear power, and twelve months ago we increased investments in our networks from 600m to 800m Krona per year,” said Josefsson.