FORTUM CORPORATION ONLINE NEWS 16 March 2017
The joint venture Kauno Kogeneracinė Jėgainė (KKJ), owned by Fortum and Lietuvos Energija, will build a waste-to-energy combined heat and power plant (CHP) in Kaunas, Lithuania. On 16th March KKJ signed contracts for the main equipment and the EPCM-consultancy (engineering, procurement, construction and management). The next stage in the project is finalisation of engineering and according to plans, the power plant construction activities are to start in the autumn, 2017. The CHP plant is expected to be commissioned in the middle of year 2020.
Fortum announced the joint venture on 15 October 2015.
The investment of the project amounts to approximately EUR 160 million. Fortum’s direct commitment is approximately EUR 27 million.
The electricity capacity of the Kaunas waste-to-energy plant is 24 MW and thermal capacity is about 70 MW.
Lietuvos Energija, a state owned energy group, owns 51% of Kauno Kogeneracinė Jėgainė shares, meanwhile, Fortum Heat Lietuva has 49% of the shares.
Group CommunicationsFurther information:
Andrius Kasparavičius, +37069817740, Fortum Spokesperson in LithuaniaRead more:Press release 15 October 2015: Fortum and Lietuvos Energija cooperate to build a waste-to-energy CHP plant in Lithuania
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com