Press release

Fortum negotiating the restructuring of Naantali power plant's ownership

15 November 2010, 12:00 EET

Fortum Corporation
Press release
15 November 2010

Fortum negotiating the restructuring of Naantali power plant's ownership Fortum, Turun Seudun Maakaasu ja Energiantuotanto (TSME), Turun Seudun Kaukolämpö, and Turku Energia have started negotiations regarding a new operating model for energy supply in the Turku region of Finland. In the new model, the region's energy production would be consolidated to one co-owned production company, TSME. The owners of TSME are Turku Energia (42.5%) and Fortum (42.5%) as well as the municipalities of Raisio (9%), Kaarina (3%) and Naantali (3%). The operating model under planning was presented today to representatives of the cities. As part of the restructuring now being negotiated, Fortum would initially lease and possibly later sell its Naantali power plant to TSME. The district heat produced would be sold to Turku Energia, the steam to Fortum and the electricity to TSME shareholders. The aim is to reach a final decision on the restructuring during the first quarter of 2011. Currently, energy production in the Turku region is largely based on the heat and electricity production of Fortum's Naantali coal-fired power plant. The power plant produces annually about 1,000 gigawatt-hours (GWh) of electricity for the Nordic market, about 600 GWh of steam for industrial customers, and about 1,500 GWh of district heat for Turun Seudun Kaukolämpö Oy's heat transmission network. The plant has been operating for 50 years, and its renewal will become topical in the near future. Fortum has launched an environmental impact assessment (EIA) on building replacement energy production capacity in the Naantali power plant area. Fortum Corporation Corporate Communications Additional information: Jouni Haikarainen, Vice President, Heat Division, Finland, tel. +358 (0)40 709 5690