Finland's Fortum Starts Delayed Russian Unit

Finland's state-controlled utility Fortum Oyj said it has completed its investment programme in Russia after starting production at a delayed unit at its Chelyabinsk heat and power plant on Tuesday.

 

The new unit is fully backed by Russia's Capacity Supply Agreement (CSA) system, Fortum said.

 

Since 2008, Fortum has constructed eight gas-fired units in Russia with a combined capacity of over 2 gigawatts.

 

Fortum recently revised its targets for its Russian business and now expects an 18.2 billion rouble ($246 million) operating profit level for the unit during 2017-2018.