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.
For additional information:
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