Vattenfall to spent $1.93 billion modernizing hydropower

Stockholm, Sweden, April 25, 2012 — Vattenfall will invest about $1.93 billion into modernizing and increasing production in its hydroelectric plants until 2013.

Among the biggest of Vattenfall's projects is refurbishment of the Storuman hydropower plant, which will see an increase in production of 8 GWh per year after two new turbines are installed. The Storuman refurbishment will cost about $40 million and will begin in 2014.

Other facilities will receive more efficient turbines and generators that will provide more energy from current water volumes. Already this year, Vattenfall has completed a $148.5 million investment in the 158-MW Akkats hydroelectric plant.

The company says hydropower accounts for about 20 percent of its total electricity generation and 41 percent of Sweden's total supply.

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