Suvic Oy has signed a contract to build a 102,2 MWp solar farm in Lapua

Dovre Group Plc                 Inside information          December 22, 2023, at 1.30 p.m.

Suvic Oy has signed a contract to build a 102,2 MW_p solar farm in Lapua

Suvic has signed a contract covering the construction of one of the largest solar farms in Finland. The total value of the contract is approximately EUR 38 million.

The 102.2 MW_p solar farm will be built on a former peat production area of Heinineva in Lapua and will cover a total area of 140 hectares. The contract includes supplying and installation of panels, panel supports, converter stations and inverters. The scope of the contract can be illustrated by the fact that more than 140 000 solar panels will be installed in the park. Approximately 33 MWp or 12 million euros of the total contract scope is still subject to a separate decision by the client.

The subscriber is EPV Aurinkovoima Oy, a wholly owned subsidiary of EPV Energia.

"EPV owns a lot of land that is especially suitable for this type of solar power generation, and we plan to use it for increasing the solar power with as little environmental impact as possible. EPV’s starting point is to select land in such a way that there is no need to prepare it or cut down trees to make way for the new solar farm,” says Ari Soininen, Managing Director of EPV Solar Power.

Ville Vesanen, CEO of Suvic, says that the demand for solar power construction has made up for the somewhat sluggish wind power market in Finland: "The Lapua project continues Suvic's series of industrial-scale solar power plant constructions in Finland. In this project we will also benefit from our expertise and experience in the implementation of large-scale solar power projects.”

Suvic's Business Director responsible for solar power, Jari Koppelo, commented that the recently acquired project is the result of determined work: "We have systematically developed our expertise in solar power and the Suvic Solar+ concept because we aim to be a significant player in Finland's solar power construction market in the future.”

Suvic will start construction work of the park in May 2024 and the estimated completion date is the end of 2025, with the park aiming to go into production in early 2026.

The project has no impact on Dovre’s guidance for 2023.

For further information, please contact:

Ville Vesanen
CEO, Suvic Oy
Tel. +358 44 328 9928
vve@suvic.fi

Ilari Koskelo
Vice Chairman of the Board, Dovre Group Plc
Tel. +358 40 510 8408
ilari.koskelo@navdata.fi

Dovre Group is a trusted global provider of project management services with locations across Canada, Finland, Norway, Singapore, Sweden and the United States. Our professionals execute assignments all around the world. In 2022, the Group’s net sales were EUR 203 million and its operating result was EUR 8.5 million. The Group’s parent company Dovre Group Plc is domiciled in Finland and listed in Nasdaq Helsinki (symbol DOV1V). Dovre takes an active part in the green transition and contributes to an environmentally and socially sustainable future. Website: www.dovregroup.com

Suvic Oy is a construction company founded in Oulu in 2017, specializing in the implementation and project management of wind farms. The company also offers contracting services for energy and industrial construction. Suvic brings new, innovative practices to the field of energy construction through design, construction, and project management. The company's current sites include Valrea's Kalistanneva and Matkussaari wind farms (Kurikka), Prime Capital's Sandbacka wind farm (Uusikaarlepyy and Vöyri), CPC Finland's Lakari solar power plant and Fortum’s data center waste heat power plant (Kirkkonummi). Website: www.suvic.fi

Distribution:
Nasdaq Helsinki
Major media
www.dovregroup.com