Press release

Fortum to operate and maintain the Tees Renewable Energy Plant in the UK

17 August 2016, 10:55 EEST


Fortum has signed a 10-year operation and maintenance (O&M) agreement with MGT

Teesside Ltd in the UK. The agreement covers the operation and maintenance
services of a new 299 MW biomass-fired combined heat and power plant to be
located in North-East England. The construction of the power plant is due to
start immediately and be completed by 2020.

“This significant O&M agreement is well in line with our vision to be the
forerunner in clean energy. Fortum has long experience on biomass-fired
combined heat and power plants. We are happy to give our customers access to
our expertise by providing O&M services and that way support the increase of
renewable energy production in the UK,” says Antti Malve, Head of Sales,
Expertise Sales, Fortum.

“We are happy to start co-operation with Fortum in our project. Fortum can
offer us a world-class operation and maintenance concept and valuable
experience as an owner and operator of biomass-fired power plants,” says Ben
Elsworth, CEO of MGT Teesside.

The parties have agreed that they will not disclose the value of the agreement.

Fortum is a significant user of biomass in its own operations in Finland,
Sweden, the Baltic countries and Poland. In 2015, altogether 5.1 TWh of biomass
(2.6 million m3) was used in Fortum’s power and heat plants. Biomass accounts
for one fourth of Fortum’s heating fuels in the EU area.

For Fortum the Teesside agreement means continuation of a long history of O&M
services in the UK. Prior to this agreement Fortum has been involved in 13
different O&M contracts in the country.

Fortum Corporation
Group Communications

Further information:
Antti Malve, Head of Sales, Expertise Sales, Fortum, tel. +358 40 503 2531
Juha Suomi, Head of International O&M, Fortum, tel. +358 50 453 5018

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

Facts about the Teesside project:
The Tees Renewable Energy Plant (Tees REP) is a 299 MWe biomass combined heat
and power project owned by MGT Teesside Limited and developed by MGT Power
Limited. The power plant will help to meet UKs legally binding renewable energy
target. The Tees REP will be fuelled by wood pellets and chips and it will
produce enough to electricity to power approximately 600,000 homes as well heat
for use on the site and for nearby users.