The EU Commission approves a Finnish measure worth €26.3M to support the construction of a hydroelectric pump storage (SEVO)

State aid: Commission approves €26.3 million Finnish measure to support SEVO in construction of hydroelectric pump storage* The European Commission has approved, under EU State aid rules, a €26.3 million Finnish aid measure to support Suomen Energiavarasto Oy (‘SEVO') in the construction of an underground hydroelectric pump storage facility. The measure will increase the share of renewables in Finland's electricity generation in line with the EU's European Green Deal objectives. At the same time, it will help reduce dependence on Russian fossil fuels and fast forward the green transition in line with the REPowerEU Plan. The Finnish measure Finland notified the Commission of its plan to support SEVO, a subsidiary of EPV, in the conversion of a non-active mine located in Pyhäsalmi into