Eltel’s power distribution customers in Finland use their options to extend current agreements till early 2019

Finnish power distribution utilities and street lighting owners utilise their options to extend current frame agreements with Eltel. Caruna Oy and Caruna Espoo Oy use their 14-month options to continue the current frame agreements from the beginning of 2018. Agreements with Helen Sähköverkko Oy and Helsingin kaupungin rakennusvirasto also provide two-year extensions of current frame agreements. Including a newly signed medium voltage renewal contract with South Ostrobothnia, the total value of these agreements will be approximately EUR 40 million.

The option with Caruna ensures availability of the regional fault removal and maintenance resources as well as the availability of local build services until early 2019. The agreement covers the regions in Southwestern and Northern Finland as well as in Joensuu.

The extensions of the current agreements secure continuity in the delivery of the above mentioned services over an extended period of time. In 2013 a new law was approved to secure improved electricity supply in Finland. This has resulted in increased investments by the electricity distribution companies to ensure undisturbed availability of electricity networks.

Juha Luusua, President - Eltel Power Distribution comments:
“The Finnish electricity distribution companies continue to upgrade their networks to improve the reliability of their power networks. The extensions of our current frame agreements are a proof of Eltel’s competences and competitiveness to provide the services needed by our customers. The agreements provide a solid base for our resource planning and development as well as optimisation of the entire supply chain”.

For further information:
Hannu Tynkkynen
Director – External Communications and Sustainability
Tel: +358 40 311 4503, hannu.tynkkynen@eltelnetworks.com

For more information on Caruna: www.caruna.fi/en

About Eltel
Eltel is a leading Northern European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Other, with operations throughout the Nordics, Poland and Germany. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. In 2016, Eltel net sales amounted to EUR 1.4 billion. The current number of employees is approximately 9,500. Since February 2015, Eltel AB is listed on Nasdaq Stockholm.