Press release

Fortum and Rosatom sign Memorandum of Understanding on cooperation in nuclear power

26 November 2010, 10:04 EET

Fortum Corporation Press release 26 November 2010

Fortum and Rosatom sign Memorandum of Understanding on cooperation in nuclear

Fortum Corporation and the Russian State Atomic Energy Corporation ROSATOM have
signed a Memorandum of Understanding on cooperation in the field of nuclear
power. The development of nuclear power markets offers a good opportunity to
extend the long-standing cooperation between the two companies in applying
their nuclear competences in future nuclear power projects. 

“Cooperation with Rosatom fits very well with Fortum's strategy in which
nuclear power is one of the key elements. Projects where Rosatom is strongly
involved can also bring new business opportunities to Fortum”, says Matti
Ruotsala, Executive Vice President of Fortum Corporation. 

Fortum has extensive experience and an excellent track record in building,
operating, maintaining and upgrading nuclear power plants. Fortum also has a
long history of joint-ownerships and industrial development of nuclear power in
Finland and Sweden, and is internationally recognized for its expertise in
nuclear safety and waste management. 

The State Atomic Energy Corporation ROSATOM incorporates more than 250
enterprises and scientific institutions. The State corporation comprises
enterprises covering the whole cycle of nuclear power generation - starting
from uranium production up to the decommissioning of nuclear power plants.
Rosatom holds leading positions in the world market of nuclear technologies
being the 1st in the world in simultaneous nuclear build abroad; 2nd in uranium
reserves and 5th in uranium mining; 4th in nuclear electricity generation,
while providing 40% of the world uranium enrichment services and 17% of the
world nuclear fuel market. 

Fortum Corporation
Corporate Communications

Further information:
Matti Ruotsala, Executive Vice President, Fortum, tel. +358 40 048 7052
Anne Brunila, Executive Vice President, Fortum, tel. +358 40 081 3952

About Fortum
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 sale
of electricity and heat as well as related expert services. 

Fortum's operations focus on the Nordic countries, Russia and Baltic Rim area.
In the future, the fast-growing, liberalizing Euro-Asian energy markets provide
additional growth opportunities. In 2009, Fortum's sales totalled EUR 5.4
billion and operating profit was EUR 1.8 billion. We employ approximately
11,000 people. Fortum's shares are quoted on NASDAQ OMX Helsinki. 

Further information: