Fortum boosts investment programme – new power plant being planned in Inkoo

Press release

Fortum plans to build a new gas turbine power plant on the grounds of the current 1,000-megawatt coal power plant in Inkoo, Finland. A public bidding process has been launched, and the environmental permit application has been filed.

According to the plan, the power plant will be in commercial use in 2009. The fuel of the power plant will be light fuel oil, and the power generation output will be about 250 to 300 megawatts (MW).

The project is part of Fortum's Nordic growth strategy, and it will extend the current capacity investment programme of EUR 2.7 billion which will increase the capacity for power generation by 1,200 megawatts mainly by 2010. Once the Inkoo power plant is completed, the capacity increase will rise to approximately 1,500 megawatts.

"The new power plant is intended to serve as a reserve power plant and to complement generation during peak consumption periods. It will also help to increase power generation in a situation of tightening capacity possibly caused by the delay of the new nuclear power plant project in Olkiluoto," says Fortum's SVP Tapio Kuula.

The final investment decision on the Inkoo power plant will be made at a later date.

Fortum Corporation
Corporate Communications

For further information, please contact:
Pekka Päätiläinen, President, Fortum Generation, GSM +358 50 453 2740

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