Fortum revealed plans to invest in the Inkoo, Finland project, which would have been built to work in conjunction with an existing power plant in the region, in December 2006. The company’s intention was to take the 250MW to 300MW gas turbine power plant into use at the turn of 2008 to 2009 to serve as a reserve power plant during peak consumption periods.
The project was planned to be realized in cooperation with a partner or partners, but such a cooperation did not develop as planned, Fortum said. Consequently, the financial pre-requisites of the project have changed substantially and Fortum has decided to cancel its plans for the reserve power plant altogether.
The decision to discontinue the investment plan was also influenced by the power plant’s increased construction costs, as well as already initially challenging financial basis, commented Fortum SVP Tapio Kuula.
