Eastern European Markets
January 16, 2007

Fortum invests in new combined heat and power plant in Estonia

Fortum's Estonian subsidiary, AS Fortum Tartu, is building a new combined heat and power plant in the City of Tartu, Estonia. The value of the investment is around EUR 60 million. The power plant is planned to be completed for production by the end of 2008.

The new power plant will use biofuels and local peat as fuels. Production capacity will be approximately 52 megawatts (MW) heatand 25 MW electricity.

The new plant is needed to cover the growing heat demand in the City of Tartu and surrounding areas, and the growing electricity demand in Estonia. It will replace gas-based heat production with local biofuels and peat.

"This investment will benefit both the environment and local heat consumers in Tartu. It will help in keeping the local heat price at a competitive level and improve the reliability of the energy deliveries to our customers in Tartu. Fortum's expertise in combined heat and power production can now be utilised also in Estonia," says Risto Riekko, President of Fortum Heat business unit and Chairman of the Board of Fortum Tartu.

Fortum Tartu AS is a district heat company operating in the City of Tartu. It is owned by Fortum (60%) and by AS Giga (40%).

Further information:
Risto Riekko, President, Fortum Heat, tel. +358 50 453 4485
Jaakko Vähä-Piikkiö, Country Manager, Fortum Heat, tel. +358 50 453 200

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