FORTUM ACQUIRED SHARES IN AB KLAIPEDOS ENERGIJA IN LITHUANIA

Fortum has acquired a 14.73% share in Klaipedos Energija in Lithuania from Stadtwerke Leipzig GmbH on 29 February, 2008. After the purchase, Fortum owns a 19.63% share of the company.

AB Klaipedos Energija generates and distributes district heat to the residents and industries of Klaipeda City and Gargzdai town. The majority (75%) of the company is owned by the City of Klaipeda. The net sales of the company is around EUR 27 million, annual heat sales 1 terawatthours (TWh) and power sales 20 gigawatthours (GWh).

The share purchase supports Fortum's growth strategy in the Lithuanian heat market and the development of local combined heat and power production (CHP). Fortum and the City of Klaipeda have established a joint company called AB Fortum Klaipeda to prepare utilization of the CHP production potential.

Klaipeda is the third largest city of Lithuania with 200,000 inhabitants. It is one of the fastest growing cities in the country and has the 2nd biggest harbor in the Baltic countries.

Fortum has been in Lithuania since 2003. UAB Fortum Heat Lietuva generates and distributes district heat through its two subsidiaries in the regions of Svencioniu and Joniskio. Main fuels are biomass and natural gas. UAB Fortum Ekosiluma produces and sells biofuels.


Fortum Corporation
Corporate Communications


Further information:

Jaakko Vähä-Piikkiö, Vice President, Fortum Heat, tel. +358 50 453 2009
Vitaljus Žuta, General Manager, UAB Fortum Heat Lietuva, tel. +370 698 21948