Fortum invests in new combined heat and power plant in Estonia

Fortum's Estonian subsidiary, AS Fortum Tartu, is building a new combined heat and power plant in the City of Tartu, Estonia. The value of the investment is around EUR 60 million. The power plant is planned to be completed for production by the end of 2008.

The new power plant will use biofuels and local peat as fuels. Production capacity will be approximately 52 megawatts (MW) heat and 25 MW electricity.

The new plant is needed to cover the growing heat demand in the City of Tartu and surrounding areas, and the growing electricity demand in Estonia. It will replace gas-based heat production with local biofuels and peat.

"This investment will benefit both the environment and local heat consumers in Tartu. It will help in keeping the local heat price at a competitive level and improve the reliability of the energy deliveries to our customers in Tartu. Fortum's expertise in combined heat and power production can now be utilised also in Estonia," says Risto Riekko, President of Fortum Heat business unit and Chairman of the Board of Fortum Tartu.

Fortum Tartu AS is a district heat company operating in the City of Tartu. It is owned by Fortum (60%) and by AS Giga (40%).

Fortum Corporation
Corporate Communications

Further information:

Risto Riekko, President, Fortum Heat, tel. +358 50 453 4485
Jaakko Vähä-Piikkiö, Country Manager, Fortum Heat, tel. +358 50 453 2009

About Us

Fortum’s purpose is to create energy that improves life for present and future generations. Catering to the versatile needs of our customers, we generate, distribute and sell electricity and heat, and offer related expert services. Our operations focus on the Nordic and Baltic countries, Russia and Poland. In 2013, Fortum’s sales totalled EUR 6.1 billion and comparable operating profit was EUR 1.6 billion. We employ approximately 8,800 people. Fortum’s shares are traded on the NASDAQ OMX Helsinki.