Fortum Invests in 260 Million-Euro Biomass Plant in FinlandLouise Downing
Fortum Oyj, Finland’s biggest utility, invested in a 260 million-euro ($354.6 million) plant to turn recycled waste, coal and biomass into heat and power.
Fortum invested 40 million euros in the plant in Naantali, southern Finland, to be built by Turun Seudun Energiantuotanto Oy, which is nearly half owned by Fortum, the Espoo-based utility said. The remaining money is being provided by shareholders and “external financing,” it said in a statement.
Construction should begin by the end of the year and the plant is expected to start working in the second-half of 2017. It will have a 142-megawatt power capacity and 244-megawatt capacity to produce heat.