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Press release

Fortum commissions new capacity at Tobolsk in Russia

03 October 2011, 10:00 EEST

PRESS RELEASE 3 October 2011

Fortum has completed the third project of its Russian investment programme at Tobolsk, in Tyumen region, Russia. The new power capacity commissioned at Tobolsk CHP, adds approximately 210 megawatts (MW) to the market. The new capacity was taken into commercial operation on 1 October 2011.
 
"Having completed the investment at Tobolsk CHP Fortum has once again confirmed its commitment to the execution of its Russian investment programme which is a key driver for solid earnings in the country. The additional new capacity in Tobolsk supports the petrochemical industry of the area and promotes the development of the region's economy", says Tapio Kuula, President and CEO of Fortum.

The capacity increase in Tobolsk CHP is the third completed project of Fortum's investment programme in Russia. In February 2011, Fortum started commercial operation of the new unit at Tyumen CHP-1 with a capacity of 230 MW. In June 2011, Fortum commissioned another new unit at Chelyabinsk CHP-3 with a capacity of 226 MW. The investment programme continues near the city of Nyagan in Khanty-Mansiysk, where the first two out of three new units are estimated to be commissioned in 2012.
 
Fortum's subsidiary in Russia, OAO Fortum, has committed to implementing one of the largest investment programmes in the Russian power generation in terms of relative increase in the total installed capacity. The value of the remaining part of the investment programme is estimated to be approximately EUR 1.3 billion from the beginning of July 2011. The programme is planned to be completed in 2014, and it will increase the generating capacity of Fortum's power plants in Russia by approximately 85 % up to 5146 MW.

Fortum Corporation
Communications

Additional information:
Anne Brunila, Executive Vice President, Corporate Relations and Sustainability, tel. +358 10 4520970

About Tobolsk:
The Tyumen region, where Tobolsk is located, is the centre of Russian gas and oil production and the wealthiest region after Moscow. Tobolsk has a population of 100,000 people. The prime consumption in the area is based on the local petrochemical industry. Because of its energy production-focused industry, the Tyumen region saw minimal decreases in electricity consumption during the last years, compared to significant decreases elsewhere in Russia.

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 sales 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 integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2010, Fortum’s sales totalled EUR 6.3 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,500 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

Further information: www.fortum.com