Swedish energy company Vattenfall has announced plans to invest SEK 13B (US$1.9B) over the next ten years to modernize and increase production at its hydro power plants.

As part of the refurbishments, the company’s hydropower plant in Storuman, Umluspen, will get two new turbines increasing production by 8GWh per year. Around SEK270M (US$39.8M) will be spent on the 45-year-old project starting in 2014, in a move to ensure a further 40 years of operation at the plant.

In January this year, the company completed a SEK 1B (US$147M) investment at the Akkats hydropower project in Jokkmokk.