FORTUM CORPORATION PRESS RELEASE 24 September 2013
The new gas-fired thermal power plant Nyagan GRES was inaugurated today in
Western Siberia by President of Russia Vladimir Putin and President of Finland
Sauli Niinistö. The first unit of the power plant has been in commercial
operation since March 2013, and units two and three are to be completed in 2013
and 2014 respectively.
The largest greenfield thermal power plant project in Russia since 1990, the
massive site will have a power generation capacity of over 1,250 megawatts
(MW). The plant's estimated annual production, 9.8 terawatt-hours, equals the
electricity consumption of about 3.1 million Russian households.
Speaking at the inauguration event, Fortum's CFO Markus Rauramo said: "The
Nyagan power plant represents the most significant part of Fortum's investment
programme in Russia, making the site an important landmark for our company.
Fortum is committed to a long-term presence in Russia, and the Russian energy
market plays an essential role in our strategy."
"With Nyagan 1 in production since March, we are reaching the halfway mark of
our investment programme that will nearly double our electrical capacity in
Russia when finished next year. Nyagan GRES represents state-of-the-art
technology. It will add the most efficient power generation facility to this
gas- and oil-rich region of Russia," says Alexander Chuvaev, Executive Vice
President, Fortum Corporation and head of Russia Division.
Nyagan GRES will consist of three combine-cycle units utilising
energy-efficient gas turbine technology. The Nyagan 1 unit’s capacity has been
certified to exceed 420 MW, and it is one of the most energy-efficient units
in Russia. The second of the Nyagan GRES units, Nyagan 2, is currently under
testing and is expected to be commissioned by the end of 2013. The Nyagan GRES
unit 3 is planned to be commissioned at the end of 2014, ahead of CSA-committed
Fortum is running an extensive EUR 2.5 billion investment programme in Russia.
It is one of the largest of its kind in Russian thermal power generation. The
programme consists of eight gas-fired units, four of which have already been
commissioned. The remaining four units account for the biggest share of
capacity in the programme. Construction of all units is expected to be
finalised by the end of 2014.
Fortum owns and operates nine power plant units in Russia and employs 4,300
people in the country. In addition, the company holds over 25% in the
territorial generating company TGC-1. Russia has the world's fourth highest
demand for electricity, and the country is a growth market for electricity
For additional information, please contact:
Pauliina Vuosio, Vice President, Financial Communications, Fortum, tel. +358 50
Images of Nyagan power plant are available at:
For latest information about Fortum in Russia, please visit:
Growth from Russia brochure:
Fortum's purpose is to create energy that improves life for present and future
generations. We provide sustainable solutions that fulfill 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, Poland and the
Baltics. In the future, the integrating European and fast-growing Asian energy
markets provide additional growth opportunities. In 2012, Fortum’s sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion.
We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX
Further information: www.fortum.com