Kemijoki
Kemijoki Oy is Finland's largest hydropower producer, operating 20 plants across three river systems with over 1,100 MW of capacity. It supplies approximately one-third of Finland's hydropower and provides regulating power to balance the national electricity grid.
- Company typePrivate
- Founded1953
- HeadquartersRovaniemi, Finland
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Kemijoki does
Kemijoki Oy is Finland's most significant hydropower producer, operating a portfolio of 20 hydropower plants distributed across three river systems: 16 plants on the Kemijoki river in northern Finland, two on the Lieksanjoki in eastern Finland, and two on the Kymijoki in southern Finland. The combined installed capacity exceeds 1,100 MW, and the company produces approximately one-third of Finland's hydropower. Its core offerings are baseload renewable electricity generation and regulating power services that balance Finland's national grid as variable wind and solar generation increases; the company also manages four major reservoirs (Lokka, Porttipahta, Kemijärvi, and Olkkajärvi) for flood control and water resource management and provides dam safety services across its operating area, which spans more than 1,000 kilometers of river systems and is home to nearly 200,000 residents.
The company operates as a privately held, wholesale B2B utility, selling electricity and grid balancing services directly to Finland's national electricity system and grid operators and serving as a regulated supplier to the national grid. It employs approximately 50 people — including electrical and mechanical engineers and biodiversity experts — and is headquartered in Rovaniemi, Finland. Ownership is held by Finnish stakeholders, with the City of Kemijärvi cited as a significant municipal owner; no venture, private equity, or institutional investor ownership is disclosed. Pricing for utility-scale generation is not publicly disclosed, and the go-to-market is enterprise field sales to grid operators rather than a consumer-facing channel. Distribution is domestic only, and the company has no disclosed subsidiaries, M&A activity, or international footprint.
Kemijoki Oy's principal forward-looking initiative is the Ailangantunturi pumped storage power plant (planned 550 MW) in Kemijärvi, intended to function as a "water battery" that balances Finland's electricity system, stabilizes prices, and enables further renewable build-out. The environmental impact assessment programme was submitted to the Lapland ELY Centre in May 2024 and the EIA report was filed in July 2025; construction is targeted to begin in 2029 with production commencing in 2032. The company is also investing in climate adaptation of existing assets, including a new dam gate at Kelukoski power plant in 2025. Operational partnerships include Fortum (control room operations) and AFRY Finland Oy (EIA consulting for the Ailangantunturi project).
Kemijoki firmographics
Firmographics- Name
- Kemijoki
- Legal name
- Kemijoki Oy
- Website
- https://kemijoki.fi
- Company type
- Private
- Founded year
- 1953
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Kemijoki Oy is Finland's largest hydropower producer, operating 20 plants across three river systems with over 1,100 MW of capacity. It supplies approximately one-third of Finland's hydropower and provides regulating power to balance the national electricity grid.
- Ownership category
- akta.pro rank
Kemijoki industry classification
Industry- Product category
- Hydropower Generation
- NAICS
- Hydroelectric Power Generation (221111), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911), Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Reservoir/Impoundment Hydroelectric Generation (EUACAEAB)
- akta.pro secondary industries
- Hydropower Grid Services & Dispatch Optimization (Ancillary Services, Scheduling) (EUAMADAH), Pumped-Storage Hydroelectric Generation (EUACAEAC), Hydropower Operations, Maintenance & Asset Management (O&M, Spares, Performance) (EUAMADAE)
Keywords
Where Kemijoki is headquartered
LocationHeadquarters
- HQ city
- Rovaniemi
- HQ country
- Finland
- HQ region
- Europe
Offices1 record
Markets served
Kemijoki business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D
Revenue model
- Hydropower Electricity Generation and Sale: Generation and sale of renewable hydropower electricity to the Finnish electricity grid. As the most significant hydropower producer in Finland, the company supplies approximately one-third of Finland's hydropower output.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Kemijoki product offering
Product offeringCore offering
Kemijoki Oy generates and sells renewable hydropower electricity through 20 hydropower plants distributed across three Finnish river systems (Kemijoki, Lieksanjoki, Kymijoki) with a combined capacity exceeding 1,100 MW. The company supplies approximately one-third of Finland's hydropower and provides regulating power that balances Finland's national electricity grid as variable renewables increase. It also manages major reservoirs (Lokka, Porttipahta, Lake Kemijärvi, Lake Olkkajärvi) for flood control and power generation, and is developing the 550 MW Ailangantunturi pumped storage power plant to function as a "water battery" for grid stability.
Product overview
Kemijoki Oy operates as Finland's most significant hydropower and regulating power producer. The company manages a portfolio of 20 hydropower plants distributed across three river systems: 16 plants on the Kemijoki river, 2 on Lieksanjoki, and 2 on Kymijoki, with a combined capacity exceeding 1,100 megawatts. The core offering is continuous hydroelectric power generation that produces approximately one-third of Finland's hydropower. The company also provides regulating power services essential for balancing Finland's electricity grid, particularly important as the country transitions from fossil fuels to renewable energy sources. Additional services include reservoir regulation for flood control (Lokka, Porttipahta, Kemijärvi, Olkkajärvi) and dam safety management. A major development project is the planned Ailangantunturi pumped storage power plant (550 MW), which would function as a water battery to store energy and stabilize electricity prices. The company serves approximately 200,000 residents across operating areas spanning over 1,000 kilometers of river systems.
Differentiator
Problem solved
Functional benefit
Products and services
- Hydropower Electricity Generation Continuous hydroelectric power generation across 20 hydropower plants on three river systems (16 Kemijoki, 2 Lieksanjoki, 2 Kymijoki) with combined capacity over 1,100 MW, producing approximately one-third of Finland's hydropower for supply to the national grid.
- Reservoir Regulation Services Regulation of large artificial reservoirs (Lokka and Porttipahta) and natural lakes (Kemijärvi and Olkkajärvi) to manage water resources for flood control and power generation.
- Dam Safety Management Comprehensive dam safety services including design basis review, discharge capacity improvement, monitoring systems, and structural maintenance for climate change adaptation across the company's dam infrastructure.
- Flood Protection Services Flood protection services along the rivers where Kemijoki Oy operates, including emergency response planning and dam operations to manage flood risk for nearly 200,000 residents in the operating area.
- Ailangantunturi Pumped Storage Power Plant Planned 550 MW pumped storage power plant at Ailangantunturi in Kemijärvi designed to function as a water battery to balance Finland's electricity system, stabilize price fluctuations, and enable further renewable energy integration.
Quantifiable outcome
- Approximately one-third of Finland's hydropower is produced by Kemijoki Oy
- +2 more outcomes
Companies that use Kemijoki
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles1 record
Kemijoki technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Kemijoki partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered project-specific, operational and ownership.
- AFRY Finland Oyproject-specificAFRY acts as the EIA (environmental impact assessment) consultant for the Ailangantunturi pumped storage power plant project, conducting expert assessments of environmental impacts during construction and operation.
- FortumoperationalFortum's hydropower operator handles control room operations at Kemijoki Oy's power plants. This is an operational partnership for daily plant management and grid coordination.
- City of KemijärviownershipCity of Kemijärvi is an owner of Kemijoki Oy and would receive significantly greater revenue from the proposed Ailangantunturi pumped storage power plant project.
Scale indicators7 records
Recent moves5 records
Expansion highlights2 records
Kemijoki competitors and assessment
Company assessmentBroad incumbents
- EDF: French state-owned utility with one of Europe's largest hydropower fleets and pumped-storage assets; comparable in operating reservoir and pumped-storage hydro at utility scale with regulated/wholesale exposure.
- Statkraft: Norwegian state-owned generator and Europe's largest renewable energy producer, with a hydropower-heavy portfolio and grid-services operations analogous to Kemijoki's regulating power offering.
- Fortum: Finland-headquartered utility with significant hydropower, nuclear, and district heating operations; already operates Kemijoki's control rooms as a service partner, making it both a peer and a counterparty in the Nordic hydropower market.
- Uniper: European utility with hydropower, thermal, and trading operations across the Nordics and Germany; comparable at the level of running merchant hydropower assets exposed to Nordic power prices and ancillary services.
- Vattenfall: Swedish state-owned utility with one of Europe's largest hydropower fleets; directly comparable as a Nordic incumbent hydropower operator selling into regulated/wholesale markets.
Direct peers
- EPV Energy: Finnish energy company with significant hydropower and thermal generation supplying industrial off-takers and the Finnish grid; directly comparable as a Finland-based, hydropower-operating peer.
- Pohjolan Voima: Finnish energy company owning a diversified portfolio including hydropower and other generation serving industrial shareholders; directly competes in Finland's domestic power market with overlapping customer and grid-service exposure.
Others
- Andritz Hydro: Supplier of turbines, generators, and pumped-storage equipment for hydropower plants; adjacent peer as the technology partner ecosystem underlying Kemijoki's installed fleet and planned pumped-storage project.
- Voith Hydro: Global OEM of hydropower turbines, generators, and plant automation; an adjacent industry participant that supplies and services equipment similar to what Kemijoki operates across its 20 plants.
Regional players
- BKW Energie: Swiss vertically integrated utility with substantial hydropower and grid operations; comparable in reservoir-based Alpine hydro operations and grid-balancing service provision, though primarily serving Switzerland.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Kemijoki social profiles
Digital presenceKemijoki financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kemijoki leadership team
Management profileNumber of profiles
Profiles3 records
Kemijoki funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kemijoki M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kemijoki
What does Kemijoki do?
Kemijoki Oy generates and sells renewable hydropower electricity through 20 hydropower plants distributed across three Finnish river systems (Kemijoki, Lieksanjoki, Kymijoki) with a combined capacity exceeding 1,100 MW. The company supplies approximately one-third of Finland's hydropower and provides regulating power that balances Finland's national electricity grid as variable renewables increase. It also manages major reservoirs (Lokka, Porttipahta, Lake Kemijärvi, Lake Olkkajärvi) for flood control and power generation, and is developing the 550 MW Ailangantunturi pumped storage power plant to function as a "water battery" for grid stability.
Is Kemijoki a public or private company?
Kemijoki is a private company. It is classified as unknown and is currently operating.
When was Kemijoki founded?
Kemijoki was founded in 1953. It employs 11 to 50 people.
Where is Kemijoki based?
Kemijoki is headquartered in Rovaniemi, Finland, in the Europe region.
How does Kemijoki make money?
One revenue line is on record: hydropower Electricity Generation and Sale.
Who are Kemijoki's main competitors?
Broad incumbents on record are EDF, Statkraft, Fortum, Uniper and Vattenfall. Direct peers are EPV Energy and Pohjolan Voima. Others are Andritz Hydro and Voith Hydro. BKW Energie is listed as a regional player.
Does Kemijoki have an API?
No public API is recorded for Kemijoki.
What industry is Kemijoki in?
Kemijoki's product category is Hydropower Generation. Its primary akta.pro industry code is EUACAEAB, Reservoir/Impoundment Hydroelectric Generation, with a secondary code of EUAMADAH, Hydropower Grid Services & Dispatch Optimization (Ancillary Services, Scheduling). Its NAICS code is 221111 and its SIC code is 4911.