Espoo, Finland, 2013-12-02 09:00 CET (GLOBE NEWSWIRE) -- PRESS RELEASE 2 DECEMBER 2013
Fortum has commissioned its Nyagan 2 power plant unit in Russia. The unit's certified capacity is 424 megawatts (MW). In accordance, Fortum will start to receive capacity payments for Nyagan 2 as of 1 December 2013 in addition to revenues from electricity sales to the wholesale market. Nyagan 1 has been in commercial operation since 1 April 2013 and the construction of Nyagan 3 is planned to be finalised by the end of 2014.
The Nyagan power plant is part of Fortum's almost 2,400-MW investment programme in Russia. The programme is covered by Capacity Supply Agreements (CSA) and comprises eight combined-cycle gas units, five of which have now been commissioned. New CSA-backed generation capacity receives capacity payments according to “The Capacity Supply Agreement”.
"We have commissioned already the second large unit under our investment programme this year. With Nyagan 2, over 60% of the new and efficient power generation capacity we have committed to build is now in production. The parties' commitment to maintain obligations under the CSA serves as a significant indicator of the investment climate, not only in the power sector but the country as a whole " says Alexander Chuvaev , Executive Vice President of Fortum's Russia Division.
The Nyagan greenfield project, comprising three combined-cycle gas units, is being constructed in the town of Nyagan in Western-Siberia. When completed, the power production capacity of the state-of-the-art natural gas-fuelled new power plant will be approximately 1,250 MW. It is the first new-build power plant of this scale in two decades in Russia.
Fortum Corporation Corporate Communications Further information: Pauliina Vuosio, Vice President, Financial Communications, Fortum, tel. +358 50 453 2383
Images of Nyagan power plant are available at: http://www.fortum.com/en/mediaroom/media-libr...fault.aspx => Russia
Fortum Fortum’s purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfill 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 Helsinki. Further information: www.fortum.com
