VESI JA ENERGIA VIENTITUOTTEENA. Fortum Miko Olkkonen Senior Executing Manager, Hydro Projects Fortum Power & Heat Oy

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1 VESI JA ENERGIA VIENTITUOTTEENA Fortum Senior Executing Manager, Hydro Projects Fortum Power & Heat Oy

2 Fortum s strategy relies strongly in Hydro Mission Fortum s purpose is to create energy that improves life for present and future generations. We provide sustainable solutions for society and deliver excellent value to our shareholders. Strategy Build on the strong Nordic core Create solid earnings growth in Russia Build a platform for future growth Strong competence in CO 2 -free hydro and nuclear, efficient CHP production and energy markets 2

3 Hydro power producer since 1932 Key figures 2012 Sales EUR 6.2 bn Operating profit EUR 1.9 bn Balance sheet EUR 25 bn Personnel 10,400 Established in 1932 Fortum s hydro power 2012 Annual production 25,2 TWh Capacity MW Power plants 160 Employees in hydro 400 3

4 Transition towards Solar Economy High Resource & system efficiency Traditional energy production Exhaustible fuels that burden the environment CHP Advanced energy production Energy efficient and/or low-emission production Solar Economy Solar based production with high overall system efficiency Nuclear tomorrow Hydro Geothermal Bio Ocean Sun Wind Low Oil Coal Gas Nuclear today Finite fuel resources Large CO2 emissions Infinite fuel resources Emissions free production CCS 4 Copyright Fortum Corporation All rights reserved by Fortum Corporation and shall be deemed the sole property of Fortum Corporation and nothing in this slide or otherwise shall be construed as granting or conferring any rights, in particular any intellectual property rights

5 Fortum s R&D work is geared to enable a low-carbon future Commercialising wave power Production of bio oil (via pyrolysis) in combined heat and power plants Enabling the adoption of electric vehicles New solutions for district heating Nuclear safety and lifetime management Distributed production and smart grids NURES purifying radioactive liquids

6 Wave power 6

7 Fortum participating in wave power R&D projects Fortum has actively participated in wave power development since Sotenäs Surface wave power is being explored in Sweden with Seabased AB, and the utilisation of bottom waves is the target of joint research in Portugal with the Finnish AW-Energy. Seabased 10 MW Peniche and Bretagne Additionally, Fortum and the French DCNS are researching wave power in France. WaveRoller 7

8 Hydro Power A potential export product?

9 Hydropower in key role in future energy systems Balancing the system to facilitate other RES Renewable and emission free power Hydro Highly efficient energy conversion Hydropower has several features that make it a unique asset in future energy systems: Contributes directly to de-carbonization of power production and supports integration of other RES The only source of renewable energy that can be stored and ramped up and down flexibly Electricity storage Managing floods in rivers No need for additional subsidies Hydro can be further developed without additional subsidies An industrial sector where European utilities and technology providers have developed significant experience during more than a century 9

10 Global hydro potential and market potential for rehabilitation ~30% of plants older than 40 years 263 GW of 887 GW ~37% of plants in Europe ~43% of plants in North America 80% 74% 92% 10 Source: IEA

11 Fortum has strong competence in hydro asset optimization Refurbishing costs Investment calculations (NPV, RI, failure probability ) Technical parameters Optimized investments produce new profitable Green power from existing hydro power plants Power plant specific parameters Optimized investment strategy Economical parameters (wacc, inflation ) Electricity tariffs and price forecasts 11

12 Planning and Optimization of the production portfolio in complex river systems Input Inflow Price forecast Availability planned outages corrective maintenance other reasons like environmental limitations Output Optimal allocation of hydro power production Optimization first on weekly level and then on hourly level 12

13 A potential export product? Overview of different services to improve owners value Smart Investments Successful Projects Maximum Return Results and Growth Evaluation studies Condition assessment Market fit Operational performance Due diligence Improvement & investment planning Productivity Growth Safety Feasibility studies Pre-engineering Tender process EPC Refurbishments EPCM New builds Refurbishments Owner s and lender s engineering Project management and site services Supply chain management Commissioning Performance tests Training Smooth handover Market price driven production optimization Cascades Processes Tools Applications Remote operation O&M management Maintenance programs Training Co-Investing Improved operational KPI:s Availability Lost production Efficiency Costs and profit Revenues Safety Growth New capacity Increased production

14 World class know-how, cost efficiency and scalability Experienced planning and project management Project managers and construction management Lead engineers and specialists Commissioning and training Global sourcing for best possible solution Turbines and generators Control and protection systems Balance of plant Local partners Civil works and site installation Global engineering Key planning and project management Local partners In projects throughout the past we have created a network of proven equipment suppliers and service providers that can be used to find optimal solution and cost competitiveness. 14

15 Networking with other companies Initiatives like Finnish Water Forum can help in networking different companies when exporting hydro power services 15

16 Summary water and energy as a export product Huge potential exists for Hydro Power in the world Most of the potential is in emerging markets Fortum and other Finnish companies has high value know-how and experience Refurbishments and uprating of existing HPP Optimizing production and cascades Project execution How to utilize these opportunities? Active approach to new clients in emerging markets Cooperation between companies to find the best fit to client needs Initiatives like Finnish Water Forum can have a positive influence 16

17 Thank you! For more information Senior Executing Manager, Hydro Projects Fortum Power & Heat Oy 17

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