Fortum to start building the Solberg windfarm in Sweden

Fortum has made a final investment decision on the 75-megawatt Solberg wind

park project in Northern Sweden, announced earlier this year. According to the

plan, the construction starts in summer 2016 with ground works and the wind

park is expected to start production in early 2018. Skellefteå Kraft AB (SKAB)

has an option to participate in the project with a 50% share, subject to

decision by their municipal owner and authority approvals, if any. SKAB is

expected to decide on their participation during the second quarter of 2016.

The total investment of the whole project is approximately EUR 100 million.



The project is an important step in the implementation of Fortum's newly

announced strategy and the ambition to grow in wind and solar power. Fortum

aims to grow in wind and solar businesses through developing new projects and

selective acquisitions.



"Sweden is a natural choice for Fortum in wind power. It is one of our largest

home markets and there we have the majority of our hydro capacity that is

crucial in balancing the variability in wind power production. We have had good

cooperation with Skellefteå Kraft in the Blaiken wind power park, and we are

looking forward to continue our cooperation also in Solberg", says Kari

Kautinen, Senior Vice President, M&A and Solar & Wind Development at Fortum.



“There aren’t that many sites in Sweden that have wind conditions suitable for

large scale land based wind power parks, so this is a rare investment

opportunity. We are also pleased that it means a continued cooperation with

Fortum”, says Hans Kreisel, CEO of Skellefteå Kraft.



The Solberg wind park will have 22 wind turbines with a total capacity of 75

megawatts. The wind turbines for Solberg wind park will be delivered by Vestas.

Arise will deliver construction management services to the project. Solberg's

annual production is estimated to be about 250 gigawatt-hours (GWh), which is

equivalent to the annual electricity consumption of 50,000 households.



Sweden has a market-based electricity certificate support system for renewable

electricity production.



Fortum Corporation

Corporate Communications



Further information:

Mikko Iso-Tryykäri, Manager, Business Development, tel. +358 50 453 2650





Fortum

Fortum's vision is to be the forerunner in clean energy. We provide our

customers with electricity, heat and cooling as well as other energy solutions

that improve present and future life. Already 64% of our electricity generation

is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia,

Poland and India. In 2015, we employed some 8,000 energy sector professionals,

and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq

Helsinki. www.fortum.com