PRESS RELEASE 3 October 2011
Fortum has completed the third project of its Russian investment programme at
Tobolsk, in Tyumen region, Russia. The new power capacity commissioned at
Tobolsk CHP, adds approximately 210 megawatts (MW) to the market. The new
capacity was taken into commercial operation on 1 October 2011.
"Having completed the investment at Tobolsk CHP Fortum has once again confirmed
its commitment to the execution of its Russian investment programme which is a
key driver for solid earnings in the country. The additional new capacity in
Tobolsk supports the petrochemical industry of the area and promotes the
development of the region's economy", says Tapio Kuula, President and CEO of
The capacity increase in Tobolsk CHP is the third completed project of Fortum's
investment programme in Russia. In February 2011, Fortum started commercial
operation of the new unit at Tyumen CHP-1 with a capacity of 230 MW. In June
2011, Fortum commissioned another new unit at Chelyabinsk CHP-3 with a capacity
of 226 MW. The investment programme continues near the city of Nyagan in
Khanty-Mansiysk, where the first two out of three new units are estimated to be
commissioned in 2012.
Fortum's subsidiary in Russia, OAO Fortum, has committed to implementing one of
the largest investment programmes in the Russian power generation in terms of
relative increase in the total installed capacity. The value of the remaining
part of the investment programme is estimated to be approximately EUR 1.3
billion from the beginning of July 2011. The programme is planned to be
completed in 2014, and it will increase the generating capacity of Fortum's
power plants in Russia by approximately 85 % up to 5146 MW.
Anne Brunila, Executive Vice President, Corporate Relations and Sustainability,
tel. +358 10 4520970
The Tyumen region, where Tobolsk is located, is the centre of Russian gas and
oil production and the wealthiest region after Moscow. Tobolsk has a population
of 100,000 people. The prime consumption in the area is based on the local
petrochemical industry. Because of its energy production-focused industry, the
Tyumen region saw minimal decreases in electricity consumption during the last
years, compared to significant decreases elsewhere in Russia.
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