Fortum mothballs 750 MW plant

Finland’s Fortum has decided to close down a 750 MW coal-fired power plant near Helsinki.

The ageing plant has long been a loss maker and been deployed purely as a back-up power facility to the Nordic grid in recent times.

The decision will lead to a loss of 90 jobs, with a dozen employees taking a retirement option.

The move is prompted partly due to falling electricity prices in Europe, driven by Germany's shift toward renewable energy.

The facility’s three units will be mothballed in February. Fortum’s Power division will record an impairment loss of 25 million euros in its third-quarter results.

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