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Fortum participates in the financing of the bidding and engineering phase of Olkiluoto 4 nuclear unit in Finland

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PRESS RELEASE 31 October 2011

Fortum has decided to participate in the financing of the bidding and engineering phase of TVO's (Teollisuuden Voima Oyj) fourth nuclear unit at Olkiluoto, Finland, with a stake corresponding Fortum's share in TVO. Owners of TVO will make the final decision of commencing the phase.

Fortum owns approximately 26% of the shares of Teollisuuden Voima Oyj (TVO).

According to the decision-in-principle, ratified by the Finnish Parliament in July 2010, the application for a building permit for the Olkiluoto's fourth unit must be filed latest in June 2015.

Fortum Corporation
Corporate Communications

For additional information:
www.fortum.com/nuclearpower

Fortum

Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.

Fortum's operations focus on the Nordic countries, Russia and Baltic Rim area. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2010, Fortum’s sales totalled EUR 6.3 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,500 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

Further information: www.fortum.com

 

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