Press Release: EUR 250 million for energy efficiency in Finland, Poland and Sweden

The European Investment Bank bolstered energy efficiency in Finland, Poland and Sweden with a EUR 250 million loan to Fortum Corporation, headquartered in Espoo, Finland. The loan was for the ongoing construction of two cogeneration plants located in Finland and Poland, as well as the implementation of digital remote metering infrastructure in Sweden. The project consists of three separate initiatives. The first concerns the implementation of a large-scale, natural gas-fired combined-cycle gas turbine plant at Espoo, Finland, replacing an older plant. Thanks to the new plant – to be commissioned in autumn 2009 – the use of coal and oil in district heat production in the area will decrease. The second scheme consists of a medium-sized coal- and biomass-fired plant at Czestochowa, Poland. According to plan, the Czestochowa plant will begin production in 2010. The project includes also the installation of an automatic metering management infrastructure for the promoter’s power distribution operations in Sweden. The meters will enable remote reading, provide real-time consumption information and allow differential pricing according to the system load.