AF Gruppen’s Kanonaden Entreprenad Awarded Contract for Series Compensation Station in Isovaara to Boost Sweden-Finland Power Line

AF Gruppen’s Kanonaden Entreprenad Awarded Contract for Series Compensation Station in Isovaara to Boost Sweden-Finland Power Line

(IN BRIEF) AF Gruppen’s subsidiary Kanonaden Entreprenad has secured a contract to construct and install a new series compensation station in Isovaara for Svenska kraftnät. This project, carried out in collaboration with Hitachi Energy, is part of the Aurora Line, a new power line connecting Sweden and Finland. Kanonaden’s portion of the contract is valued at approximately SEK 123 million, excluding VAT. The series compensation station will enhance electricity transmission capacity, reduce downtime risks, and have a positive environmental impact.

(PRESS RELEASE) OSLO, 19-Oct-2023 — /EuropaWire/ — AF Gruppen’s subsidiary Kanonaden Entreprenad has been commissioned to carry out the construction and installation work for a new series compensation station in Isovaara for Svenska kraftnät. The assignment is being carried out in a consortium with Hitachi Energy where Kanonaden’s share of the contract is worth approximately SEK 123 million, excluding VAT.

The new series compensation station in Isovaara will enable improved transmission capacity for electricity from the new power line between Sweden and Finland, the Aurora Line. Series compensation provides increased power supply, lower risk of downtime and less environmental impact.

The contract is a turnkey contract and Kanonaden’s part of the work includes construction work and assembly and installation work. Kanonaden also signed a contract with Svenska kraftnät in December 2022 for the construction and installation of two STATCOM plants in the Stockholm area.

“This project is fully in line with our Swedish construction company’s strategy to focus on energy and power-related projects. We’re looking forward to a good partnership with Hitachi Energy and Svenska kraftnät,” says Bård Frydenlund, EVP of AF Gruppen.

Media Contact:

Bård Frydenlund
EVP Sweden
AF Gruppen
mailto:bard.frydenlund@afgruppen.no
+47 918 68 621

Peter Ek
VD
Kanonaden Entreprenad
mailto:peter.ek@kanonaden.com
+46 70 577 61 77

SOURCE: AF Gruppen