YIT AND TUULIWATTI AGREE ON THE IMPLEMENTATION OF FOUNDATIONS FOR WIND POWER PLANTS IN TERVOLA AND II, FINLAND

YIT AND TUULIWATTI AGREE ON THE IMPLEMENTATION OF FOUNDATIONS FOR WIND POWER PLANTS IN TERVOLA AND II, FINLAND

YIT Construction Ltd and TuuliWatti Oy have signed agreements on the design and implementation of foundations for 18 wind power plants to be implemented in Tervola and Ii in Finland. The total value of the agreements signed now is EUR 5-6 million, depending on the solutions determined at the design stage.

The 10 power plant units, 3 MW each, to be built in the Varevaara area in Tervola, will constitute Finland’s first actual inland wind farm situated at a distance of almost 50 km from the sea. An investment decision has now been made, and the farm will be completed during 2012. Already in 2011, TuuliWatti made the decision to build the eight power plants for the Ii wind farm. In accordance with the agreement signed now, YIT will design and build the foundations of the Tervola and Ii wind farms by autumn 2012.

The Tervola and Ii agreements continue our framework agreement signed with TuuliWatti in December 2011, where we agreed on the design and implementation of foundations of 90 wind power plants,” says Harri Orko, director of YIT’s unit for wind power plant business.

The wind farms in Tervola and Ii continue our investment programme of EUR 400 million launched last summer. Already more than 25% of the programme is at the implementation stage. The completion of ongoing projects will increase Finland’s existing wind power production capacity by one-third,” says Jari Suominen, CEO of TuuliWatti Oy.

YIT’s nationwide operations and comprehensive subcontractor network have been a significant factor in creating cost-effective solutions for Tervola and Ii. Utilising local expertise is a key advantage from the perspective of the project’s employment impact, implementation costs and adhering to schedules,” says Mr Suominen.

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 construction works for 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, phone: +358 50 440 2322
Jari Suominen, CEO, TuuliWatti Oy, jari.suominen@st1.fi, phone: +358 10 557 2371

YIT CORPORATION

Virva Salmivaara
Senior Vice President, Corporate 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 and Baltic countries, Russia and Central Europe. 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