Espoo, Finland, 2013-10-01 11:00 CEST (GLOBE NEWSWIRE) -- PRESS RELEASE 1 October 2013
Fortum has sold its Kuusamo combined heat and power plant to the Finnish energy company Adven Oy. The transaction is part of Fortum’s efficiency programme launched in October 2012. Fortum is concentrating its combined heat and power production to larger centres and units.
The sale has a minor impact on Fortum’s financial performance and the gains will be booked in the Heat Division’s third-quarter 2013 results. The parties will not disclose the sales price.
The production capacity of the Kuusamo plant is 6 MW electricity and 19 MW district heat. The Kuusamo energy and water cooperative has been responsible for operating the Fortum-owned plant. The sale will not affect the personnel.
Adven Oy is an energy company supplying energy solutions and district heating. The company has 182 employees in Finland and Estonia.
Jouni Haikarainen, Vice President, Fortum Heat Division, Finland, tel. +358 40 709 5690
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, Poland and the
Baltics. In the future, the integrating European and fast-growing Asian energy
markets provide additional growth opportunities. In 2012, Fortum’s sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion.
We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX
Additional information: www.fortum.com