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Pöyry Oyj : Pöyry helps Eastern Africa in the search of geothermal resources

PÖYRY PLCPress release 16 May 2012  Pöyry's Energy business group has been awarded a Consulting Contract by the African Union Commission (AUC) in cooperation with the KfW Development Bank for the establishment and operation of the Geothermal Risk Mitigation Facility (GRMF) for Eastern Africa. The value of the contract amounts to EUR 3.5 million and it has been booked in the first quarter order book. The duration of the project is 48 months.  GRMF identifies and develops geothermal resources for power production in Ethiopia, Kenya, Rwanda, Tanzania and Uganda. The projects will be supported by a fund of EUR 50 million provided by the German Government and the European Union. Based on Pöyry's extensive experience in the procurement and tendering processes and deep understanding of geothermal resources, the company was selected as best bidder to support the AUC in evaluating and selecting eligible applicants.  Pöyry creates common developer manuals and operational methodologies for choosing parties interested in surface studies and exploration drilling projects in the region. During the execution period the chosen projects will be monitored and reported. A regional geothermal database of prospects in the region will be developed and updated.  PÖYRY PLC  Additional information: Philipp Elkuch, President, Business Area Central Europe, Energy Business Group Tel. +41 76 356 20 59 Ari Asikainen, President, Energy Business Group, Finland Tel. +358 10 33 24476  Pöyry is a global consulting and engineering company dedicated to balanced sustainability and responsible business. With quality and integrity at our core, we deliver best-in-class management consulting, total solutions, and design and supervision. Our in-depth expertise extends to the fields of energy, industry, transportation, water, environment and real estate. Pöyry has about 7,000 experts and a local office network in about 50 countries. Pöyry's net sales in 2011 were EUR 796 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).  DISTRIBUTION: Major media www.poyry.com  ------------------------------------------------------------------------------  This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.  The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.  Source: Pöyry Oyj via Thomson Reuters ONE HUG#1612709  
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