FORTUM SELLS HYDROPOWER WORTH EUR 126 MILLION TO KEMIJOKI OY

Fortum sells Finnish hydropower to Kemijoki Oy. The volume to be sold corresponds to the annual generation of 68 megawatts and 0.35 terawatt-hours of electricity. The purchase price is EUR 126 million. The deal is expected to be finalised before the end of June.

 

The capacity to be sold covers the Lieksankoski, Pankakoski, Anjalankoski and Inkeroinen hydropower plants. Fortum acquired these power plants from Stora Enso in May 2000.

 

Fortum owns 63.8% of the hydro power shares and 17.5% of the voting rights of Kemijoki Oy.

 

 

Fortum Corporation

 

 

Antti Ruuskanen

Corporate Executive Vice President, Communications

 

Distribution:

Helsinki Exchanges

Key media

 

Further information:

Tapio Kuula, Sector Head, Power and Heat, tel. +358 10 45 24112

Jouko Mikola, Senior Adviser, tel. +358 10 45 29302