3 June 2009
Fortum to sell its power plant in Kokkola, Finland
Fortum and the city of Kokkola in Finland have signed a letter of intent
according to which Fortum sells its combined heat and power plant in Kokkola to
the city. Fortum sells the plant for EUR 23.9 million.
The transaction is subject to the approval of the Kokkola City Council. Consent
is also required from Boliden Kokkola Oy which has a pre-emption right on the
plant. The final agreement is to be signed by the end of July and the
transaction to take effect at 1 August 2009. Fortum's local power plant
personnel, 44 persons, will transfer to a new company to be established by the
city as part of the Kokkola Goup.
The power plant in Kokkola was commissioned in 1962 and Fortum took the
ownership of the plant in 1991. The main boiler of the plant was taken in use
in 1995. The power plant produces industrial steam and district heating around
400 gigawatt hours (GWh) per year to the local industrial customers. In
addition, it produces district heating to the district heating network and
electricity to the electricity grid around 100 GWh annually.
The divestment is part of the business development programme of Fortum's Heat
segment aiming at ensuring long-term profitability of the segment.
Jouni Haikarainen, Vice President, Fortum Heat, Finland, tel. +358 40 709 5690
Anu Salonsaari-Posti, Vice President, Communications, Fortum Heat, tel. +358 50
Jarmo Nissi, Development Director, Kokkola City, tel. +358 44 780 9228
Petri Kokko, Energy Director, Kokkolan Energia, tel. +358 44 780 9707