Fortum advances its exit from coal – invests EUR 100 million in decarbonisation of Czestochowa plant in Poland

FORTUM CORPORATION INVESTOR NEWS 29.10.2024 AT 8:55 EET

Fortum’s coal exit progresses with the decarbonisation of the Czestochowa combined heat and power (CHP) plant in Poland. Fortum is committed to exit coal in all its operations by the end of 2027. In 2023, 98% of Fortum’s total power generation was already CO2-free. In heat production, 28% was based on coal. The Czestochowa plant’s retrofit with biomass technology will decrease Fortum’s coal capacity by 0.1 GW to 0.9 GW and direct CO₂ emissions by approximately 175,000 tonnes. Of the remaining 0.9 GW coal capacity, 0.6 GW is only for use in the event of severe disruptions or emergencies in the Finnish electricity system.

Fortum has decided to invest approximately EUR 100 million in the Czestochowa plant’s retrofit. The investment will take place over a period from the fourth quarter of 2024 until the fourth quarter of 2026.

Fortum is committed to exiting coal-based energy production and is replacing fossil fuels in heat production with smart and flexible solutions. Previously, Fortum has announced a total investment of EUR 300 million in the Espoo Clean Heat programme. The programme aims to provide carbon-neutral district heat production and distribution in the Espoo, Kauniainen and Kirkkonummi areas by 2030. The use of coal was discontinued within the Espoo Clean Heat programme in April 2024, over a year ahead of schedule.

Fortum Corporation

Ingela Ulfves
Vice President, Investor relations and Financial Communications

Further information:

Investors and analysts:
Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531
Rauno Tiihonen, Director, Investor Relations, tel. +358 10 453 6150

Media:
Fortum News Desk, tel. +358 40 198 2843

Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com