Press release

Fortum to sell its power plant in Kokkola, Finland

03 June 2009, 15:00 EEST

Fortum Corporation
Press release
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. Fortum Corporation Corporate Communications Additional information: Jouni Haikarainen, Vice President, Fortum Heat, Finland, tel. +358 40 709 5690 Anu Salonsaari-Posti, Vice President, Communications, Fortum Heat, tel. +358 50 453 4262 Jarmo Nissi, Development Director, Kokkola City, tel. +358 44 780 9228 Petri Kokko, Energy Director, Kokkolan Energia, tel. +358 44 780 9707