Fortum signs cooperation agreement in Russia

Fortum, RAO UES (Unified Energy System) and KES-holding (IES, Intergrated Energy Systems) have signed an agreement according to which the companies will develop a joint operating model for improving the competitiveness of electricity generation companies in Russia. The purpose is to develop the territorial generation companies created as a consequence of the structural changes of RAO UES by improving their efficiency and market value.


The actions agreed on by the companies relate to improving the availability of power plants owned by the territorial generation companies, other production development projects and related investments.


Fortum's experience and experts contribute to the technical audits of the power plants based on which the development plans will be done.


According to the agreement, the companies are also ready to evaluate the possibility of joint participation in energy sector projects in Russia. These power plant projects include, for example, utilizing new technology, planning and building additional capacity and obtaining related external funding.


"We are very satisfied that this cooperation enables Fortum to contribute to the reforming of the extensive power market in Russia," says Mr Tapio Kuula, Senior Vice President, responsible for Russian affairs at Fortum.


Fortum Corporation

Corporate Communications


For further information, please contact:

Tapio Kuula, Fortum Corporation, tel. +358 10 45 24112

Heikki Andersson, Fortum Service, tel. +358 10 45 34092


Unified Energy System of Russia (RAO UES of Russia) is the largest power holding in Russian Federation, that generates nearly 70% of general electricity output, and 30% of general heat production. The Company is the driving force in the process of reforming the energy sector in Russia; Introduction of market relations in competitive businesses that will finally increase efficiency and value of company’s assets


Integrated Energy Systems (IES – KES) is a private company actively involved in the privatization of the Russian energy sector. IES-KES is a major shareholder of three large territorial generation companies and Irkutskenergo, and a small shareholder of RAO UES of Russia.


Fortum is a leading energy company in the Nordic countries and the other parts of the Baltic Rim. Our activities cover the generation, distribution and the sale of electricity and heat, the operation and maintenance of power plants as well as energy related services. Our main products are electricity, heat and steam. Fortum's shares are quoted on the Helsinki Stock Exchange.