Teollisuuden Voima Oy (TVO) is a private electricity generation company owned by Finnish industrial and power companies, to which the company supplies electricity at cost price. The company owns and operates two nuclear power plant units on the west coast of Finland in Olkiluoto, in the municipality of Eurajoki.
In addition to the nuclear power plant, TVO is a shareholder in the Meri-Pori coal-fired power plant. The decision to construct a nuclear power plant with a capacity of ca. 600 MW was made by the Board of Directors of TVO in 1970.
In 1972, the Swedish company Asea-Atom (now Westinghouse Electric Company) was chosen as the plant supplier. The construction of Olkiluoto 1 (OL1) started in the winter of 1974, and electricity generation started in September 1978. Olkiluoto 2 (OL2) was first connected to the national grid in February 1980. At present, both units operate at a net capacity of 840 MW, and together generate almost 20% of all electricity consumed in Finland. Olkiluoto plant has operated very reliably for more than 25 years now, with the capacity factors of both units at an international top level almost throughout the operation of the plant.