FORTUM CORPORATION PRESS RELEASE 15 April 2016
Fortum has made a final investment decision on the 75-megawatt Solberg wind
park project in Northern Sweden, announced earlier this year. According to the
plan, the construction starts in summer 2016 with ground works and the wind
park is expected to start production in early 2018. Skellefteå Kraft AB (SKAB)
has an option to participate in the project with a 50% share, subject to
decision by their municipal owner and authority approvals, if any. SKAB is
expected to decide on their participation during the second quarter of 2016.
The total investment of the whole project is approximately EUR 100 million.
The project is an important step in the implementation of Fortum's newly
announced strategy and the ambition to grow in wind and solar power. Fortum
aims to grow in wind and solar businesses through developing new projects and
"Sweden is a natural choice for Fortum in wind power. It is one of our largest
home markets and there we have the majority of our hydro capacity that is
crucial in balancing the variability in wind power production. We have had good
cooperation with Skellefteå Kraft in the Blaiken wind power park, and we are
looking forward to continue our cooperation also in Solberg", says Kari
Kautinen, Senior Vice President, M&A and Solar & Wind Development at Fortum.
“There aren’t that many sites in Sweden that have wind conditions suitable for
large scale land based wind power parks, so this is a rare investment
opportunity. We are also pleased that it means a continued cooperation with
Fortum”, says Hans Kreisel, CEO of Skellefteå Kraft.
The Solberg wind park will have 22 wind turbines with a total capacity of 75
megawatts. The wind turbines for Solberg wind park will be delivered by Vestas.
Arise will deliver construction management services to the project. Solberg's
annual production is estimated to be about 250 gigawatt-hours (GWh), which is
equivalent to the annual electricity consumption of 50,000 households.
Sweden has a market-based electricity certificate support system for renewable
Mikko Iso-Tryykäri, Manager, Business Development, tel. +358 50 453 2650
Press release 29 February 2016: Fortum acquires a 75-MW construction-readywindfarm project in Sweden
Fortum's vision is to be the forerunner in clean energy. We provide our
customers with electricity, heat and cooling as well as other energy solutions
that improve present and future life. Already 64% of our electricity generation
is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia,
Poland and India. In 2015, we employed some 8,000 energy sector professionals,
and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq