Fortum's new power plant Nyagan GRES inaugurated in Russia

FORTUM CORPORATION PRESS RELEASE 24 September 2013

The new gas-fired thermal power plant Nyagan GRES was inaugurated today in Western Siberia by President of Russia Vladimir Putin and President of Finland Sauli Niinistö. The first unit of the power plant has been in commercial operation since March 2013, and units two and three are to be completed in 2013 and 2014 respectively.
 
The largest greenfield thermal power plant project in Russia since 1990, the massive site will have a power generation capacity of over 1,250 megawatts (MW). The plant's estimated annual production, 9.8 terawatt-hours, equals the electricity consumption of about 3.1 million Russian households.

Speaking at the inauguration event, Fortum's CFO Markus Rauramo said: "The Nyagan power plant represents the most significant part of Fortum's investment programme in Russia, making the site an important landmark for our company. Fortum is committed to a long-term presence in Russia, and the Russian energy market plays an essential role in our strategy."
 
"With Nyagan 1 in production since March, we are reaching the halfway mark of our investment programme that will nearly double our electrical capacity in Russia when finished next year. Nyagan GRES represents state-of-the-art technology. It will add the most efficient power generation facility to  this gas- and oil-rich region of Russia," says Alexander Chuvaev, Executive Vice President, Fortum Corporation and head of Russia Division.

Nyagan GRES will consist of three combine-cycle units utilising energy-efficient gas turbine technology. The Nyagan 1 unit’s capacity has been certified to exceed 420 MW, and it is one of the most energy-efficient units  in Russia. The second of the Nyagan GRES units, Nyagan 2, is currently under testing and is expected to be commissioned by the end of 2013. The Nyagan GRES  unit 3 is planned to be commissioned at the end of 2014, ahead of CSA-committed schedule.

Fortum is running an extensive EUR 2.5 billion investment programme in Russia. It is one of the largest of its kind in Russian thermal power generation. The programme consists of eight gas-fired units, four of which have already been commissioned. The remaining four units account for the biggest share of capacity in the programme. Construction of all units is expected to be finalised by the end of 2014.

Fortum owns and operates nine power plant units in Russia and employs 4,300 people in the country. In addition, the company holds over 25% in the territorial generating company TGC-1. Russia has the world's fourth highest demand for electricity, and the country is a growth market for electricity production.

Fortum Corporation
Corporate Communications

For additional information, please contact:

Pauliina Vuosio, Vice President, Financial Communications, Fortum, tel. +358 50 453 2383

Images of Nyagan power plant are available at:
http://www.fortum.com/en/mediaroom/media-library/photos-and-logos/pages/default.aspx  => Russia

For latest information about Fortum in Russia, please visit: www.fortum.com/russia

Growth from Russia brochure:
http://verkkojulkaisu.viivamedia.fi/fortumeseng/growthfromrussia2013

Fortum
 
Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfill 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, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2012, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion. We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

Further information: www.fortum.com