Fortum has brought about 210 MW online at Tobolsk, in Russia’s Tyumen region, on 1 October to complete the third project in its 5146 MW Russian investment programme.

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.
 
“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”, said Tapio Kuula, President and CEO of Fortum.

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 at about €1.3bn ($1.7bn) 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 about 85 per cent up to 5146 MW.

For more market intelligence news click here