Russia approves three Fortum power plant units as Joint Implementation projects

PRESS RELEASE 10 April 2012 at 10:00 EET

The Russian Ministry for Economic Development has approved three of OAO
Fortum's power plant units as Joint Implementation projects: one Chelyabinsk
CHP-3 unit and two Nyagan GRES units. All of these units are part of Fortum’s
extensive investment programme. The units, which have a total capacity of 1,052
MW electricity, are estimated to reduce greenhouse gas emissions by a total of
about 1.4 million tonnes of carbon dioxide by the end of 2012.

In addition, two enlargement projects (Pervomayskaya CHP-14 and Yuzhnaya
CHP-22) of TGC-1 in St. Petersburg, Russia, were approved as Joint
Implementation projects. Fortum has a 25% shareholding in OAO TGC-1.

The Joint Implementation projects, as defined in the Kyoto Protocol, will
reduce carbon dioxide (CO2) emissions in Russia, and Fortum will be able to use
the related emission reduction units in the EU's emissions trading scheme or
sell them on the market. The conditions of transferring emission reduction
units from Russia are still pending.

“By constructing modern, environmentally benign and energy-efficient energy
production capacity in Russia, Fortum is contributing to the global reduction
of greenhouse gas emissions. The Kyoto mechanisms, together with emissions
trading, are an important tool in our efforts to combat climate change. We are
delighted that the Russian government is recognising the endeavour by approving
again Fortum's new capacities in the country as Joint Implementation projects
under the Kyoto Protocol,” says Fortum's President and CEO Tapio Kuula.

Earlier, in December 2010, the 190-MWe unit built by Fortum at Tyumen CHP-1 and
the reconstruction of OAO TGC-1’s Nevsky hydropower plant had been approved as
Joint Implementation projects.

Fortum's EUR 2.5 billion extensive investment programme in Russia aims at a
capacity increase of approximately 2,400 MW by the end of 2014. Fortum has
already commissioned three power plant units: Tyumen CHP-1, Chelyabinsk CHP-3
and Tobolsk CHP. Fortum will launch five new combined-cycle gas turbine units
at its power plants located in the Urals and Western Siberia regions according
to the ongoing investment programme.

Fortum Corporation
Corporate Communications

Additional information:
Kari T. Kankaanpää,
Sustainability Manager, Climate and Environmental Affairs, tel. +358504532330
Yana Sufiyarova, Analyst, Russia Division, tel. +79104013172


Fortum’s purpose is to create energy that improves life for present and future
generations. We provide sustainable solutions that fulfil 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 2011, Fortum’s sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.8 billion.
The Group employs approximately 10,800 people. Fortum’s shares are quoted on
NASDAQ OMX Helsinki.

Additional information: