Investor news

Fortum finalised the acquisition of wind power projects from Nordkraft

05 January 2017, 13:35 EET

FORTUM CORPORATION INVESTOR NEWS 5 JANUARY 2017 13.35 EET

FORTUM CORPORATION INVESTOR NEWS 5 JANUARY 2017 13.35 EET

Fortum has today finalised the acquisition of three wind power projects from the Norwegian company Nordkraft.

The transaction consists of the Nygårdsfjellet wind farm, which is already operational, as well as the fully-permitted Ånstadblåheia and Sørfjord projects. Fortum is preparing for the construction of the Ånstadblåheia and Sørfjord projects, expected to be commissioned in 2018 and 2019. When built the installed capacity of the three wind farms would total approximately 170 MW.

Fortum announced the acquisition on 8 November 2016.

Fortum Corporation

Sophie Jolly
Vice President, Investor Relations and Financial Communications

Further information:

Philippe Stohr, Vice President, Wind, Fortum, tel. +33 6 3039 8223

Distribution:

Nasdaq Helsinki
Key media
www.fortum.com

The Nygårdsfjellet, Ånstadblåheia and Sørfjord wind farms

All three wind farms are located in Northern Norway. The projects are owned and developed by the Nordkraft Group, with Vesterålskraft AS owning an approximately 9,5% minority share in the Ånstadblåheia project.

                                   Installed capacity                             Commissioning

Nygårdsfjellet            32 MW                                             2006 and 2011
Ånstadblåheia            approx. 50 MW                               
expected 2018
Sørfjord                      approx. 90 MW                               expected 2019

Nordkraft

Nordkraft AS is a vertical integrated utility within hydropower (development, construction and production), distribution of power and power sales to end-users. It is owned by Narvik Municipality (50.01%), Troms Kraft (33.33%) and Hålogaland Kraft (16.16%).

Fortum

Fortum is a leading clean energy company which provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and the Baltic countries, Russia, Poland and India, and already 64% of our electricity generation is CO2 free. In 2015, our sales were EUR 3.5 billion. www.fortum.com