Fortum has decided to modernise the Malta hydropower plant in Uvån, in the municipality of Hagfors, Sweden.
The investment is approximately €20m (SEK250m), the company said.
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The Malta hydropower plant was the first plant in Uvån and has been in operation since 1914.
It was built to secure the electricity supply to the Hagfors community.
Fortum’s investment will improve the plant’s lifespan and efficiency, ensuring a continued supply of reliable and sustainable electricity production for the next 50 years.
Annual production will increase by 5GWh to 33GWh per year, which corresponds to 1650 electrically heated homes.
The work is planned to begin in spring 2024 and is expected to be completed in autumn 2026.