Harju Elekter Group Signed A Large Volume Contract
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Harju Elekter Caruna Substation Contract accelerates Finland's grid infrastructure, supplying over 1,000 prefabricated MV/LV substations annually under a 2+1+1 procurement, boosting production capacity and supporting electricity distribution reliability across Caruna's service regions.
Key Points
An agreement to supply 1,000+ MV/LV substations to Caruna yearly, scaling production and strengthening Finland's grid.
✅ 2+1+1 year procurement for substations in Finland
✅ 12 million euros estimated annual contract volume
✅ Over 1,000 units added to Estonia and Finland production
Estonia - Harju Elekter Group won the procurement for the supply of substations held by Finland’s largest distribution network company Caruna, amid increased investment in grid assets and land cable connections across Europe. According to the contract awarded for 2+1+1 years, concluded on 19 December 2016, more than 1000 pre-fabricated substations per year shall be added to the current production of the Harju Elekter Group’s electric equipment plants in Estonia and Finland for Caruna Group, bringing about a considerable increase in production as global energy infrastructure expands with nuclear project milestones influencing equipment demand. The estimated volume of the contract is 12 million euros per year.
Caruna is the largest company in Finland dedicated to the transmission of electricity, comparable in scope to utilities securing multi-year supply deals such as Minnesota Power contract in the United States. Countrywide, Caruna holds a market share of about 20 per cent of local electricity transmission and provide electricity to 650,000 private and corporate customers in South, Southwest and West Finland, as well as in the city of Joensuu, the sub-region of Koillismaa and the Satakunta region.
Harju Elekter is the leading MV/LV electrical and engineering devices producer in the Baltic countries as well as well-known and respected company in Scandinavia. Harju Elekter Group includes manufacturers of electrical equipment in Estonia, Finland and Lithuania: AS Harju Elekter Elektrotehnika (100%), Satmatic Oy (100%), Finnkumu Oy (100%) and Rifas UAB (100%), as well as the telecommunications products manufacturer AS Harju Elekter Teletehnika (100%) in Estonia and real estate holding company Harju Elekter Kiinteistöt Oy (100%). In addition, AS Harju Elekter has financial investments in the Latvian electrical equipment sales company SIA Energokomplekss (14%), in line with evolving Latvia electricity developments in the region, Estonian ultra-capacitors developer and manufacturer Skeleton Technologies Group OÜ (10%) and in the Finnish publicly listed company PKC Group Oyj (5%), and it monitors regional initiatives such as Bulgaria nuclear project that could influence grid equipment demand.