The NOK950m (US$93.16m) contract includes construction of an underground power station with associated tunnel and infrastructure work. A pressure tunnel of approximately 8km will be built between the Fivlemyrane and Illvatn reservoirs, and the total tunnel system will be around 9km. The project also includes construction of a new permanent road, access tunnel to the transformer hall and station hall, as well as a surge system measuring 250m in length.

Parts of the project area are roadless and require helicopter transport.

The Illvatn pumped storage plant will use the energy potential between the Fivlemyrane and Illvatn reservoirs. The facility will increase the storage capacity in Illvatn by 90 million m3 and contribute to more efficient use of water resources by pumping water up to Illvatn during the summer months or when energy prices are low.

The new power plant will provide new annual electricity production of approximately 84GWh.