Fortum acquires a minority share in AB Klaipedos Energija in Lithuania
Press release
Fortum has acquired a 4.9 % share in Klaipedos Energija in Lithuania from VNG-Erdgascommerz GmbH on 20 November, 2006. The acquisition is part of our Baltic strategy and supports the growth of our heat business in Lithuania.
AB Klaipedos Energija generates and distributes district heat to the residents and industries of Klaipeda City and Gargzdai town. Majority (75 %) of the company is owned by the City of Klaipeda. The net sales of the company is around 27 MEUR, annual heat sales 0.9 terawatthours (TWh) and power sales 20 gigawatthours (GWh).
Klaipeda city 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 harbour in the Baltic countries.
Since 2003, Fortum has hold ownership of UAB Fortum Heat Lietuva, which generates and distributes district heat through its two subsidiaries in the regions of Svenciniu and Joniskio. Main fuels are biomass and natural gas. UAB Fortum Ekosiluma, which produces and sells biofuels, is also owned by Fortum.
Fortum Corporation
Further information:
Risto Riekko, President, Fortum Heat, tel. +358 50 453 4485
Jaakko Vähä-Piikkiö, Country Manager, Fortum Heat, tel. +358 50 453 2009
Vitaljus Žuta, General Manager, UAB Fortum Heat Lietuva, tel. +370 698 21948
Fortum in brief:
Fortum is a leading energy company in the Nordic countries and other parts of the Baltic Rim area. The activities cover the generation, distribution and sale of electricity and heat, the operation and maintenance of power plants as well as energy related services. The main products are electricity, heat and steam.
Fortum Heat is a business unit of Fortum, which focuses on district heating and cooling, industrial steam and waste-to-energy production, and on the provision of energy outsourcing services. The customers are industrial companies, municipalities and district heating end-users.
Fortum owns and operates 22 combined heat and power plants and several hundred heating plants in the Nordic countries, the Baltic countries and Poland. In 2005, the heat sales was 834 MEUR and the volume of heat sales 21.7 TWh.