YIT AND TUULIWATTI AGREE ON THE IMPLEMENTATION OF FOUNDATIONS FOR 90 WIND POWER PLANTS IN FINLAND

YIT AND TUULIWATTI AGREE ON THE IMPLEMENTATION OF FOUNDATIONS FOR 90 WIND POWER PLANTS IN FINLAND

YIT Construction Ltd and TuuliWatti Oy have signed a framework agreement on the design and construction of foundations for 90 terrestrial wind power plants in Finland. The goal is to complete the wind power plants by the end of 2015.

TuuliWatti, a company owned by St1 Oy and S-Voima Oy of the S Group, has decided to invest about UR 400 million in industrial-scale wind power generation over the next few years. The investment programme of TuuliWatti was initiated last year as the construction work for the wind parks in Simo and Ii began, and the intention is to implement similar projects in different parts of Finland.

“TuuliWatti aims to be one of the leading industrial-scale producers of wind power in Finland. We are prepared to invest heavily in the construction of wind parks over the next few years. When the plans materialise, we shall at best produce up to one-fifth of all wind power generated in Finland,” says Jari Suominen, CEO of TuuliWatti Oy and Director of Renewable Energy at St1 Oy.

“The good geographical coverage of YIT’s service network, the company’s knowledge of local conditions and its innovative solutions are strengths that provide a good basis for building our cooperation,” says Jari Suominen, describing the advantages of the framework agreement now signed. “I believe that YIT will help us implement our planned wind power plant foundations in a cost-effective and reliable manner which is very important for us from the point of managing the entire project,” Suominen continues.

Cooperation with TuuliWatti is important for YIT. The framework agreement allows the solution models related to the design and implementation of wind power plant foundations to be jointly developed with TuuliWatti. “We aim to develop new cost-efficient foundation solutions to meet the challenges provided, among others, by the terrain and conditions affecting wind power generation,” says Harri Orko, head of YIT’s unit for Wind power plant business.

The implementation will utilise YIT’s nation-wide operations as the construction work for the wind power plant foundations is primarily carried out by YIT’s own personnel and by utilising YIT’s local subcontractor network.

YIT will provide services throughout the entire 20–25-year life span of the wind power plant, all the way from the project development phase to maintenance. The services provided include earth-moving works for constructing the roads and infrastructure of neighbouring areas as well as the foundation solutions and electrification of the wind power stations.

Further information:
Harri Orko, Unit Director, YIT Construction Ltd, Infra Services, harri.orko@yit.fi, +358 50 440 2322
Jari Suominen, TuuliWatti Oy, jari.suominen@st1.fi, +358 10 557 2371

YIT CORPORATION

Virva Salmivaara
Senior Vice President, Communications

YIT celebrates its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries - in the Nordic countries, Central Europe, Russia and the Baltic countries. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2010, YIT's revenue was approximately EUR 3.8 billion. YIT's shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com