Fortum is to invest over €60m during 2023-2030 to modernise Sweden’s 42MW Untra hydropower plant, originally constructed in 1911.
The company said the expenditure is part of its strategic priorities to deliver reliable clean energy and drive decarbonisation in industries in the Nordics.
“The construction of the Untra power plant had a significant impact on the first wave of electrification and today electricity is once more driving our transformation to net zero,” said executive vice president hydro generation at Fortum Mikael Lemström.
“Hydropower, known for its adaptability and extensive energy storage capabilities, continues to play an important role in our power infrastructure.
“As a result, investments of this nature are essential to ensure that hydropower maintains its position as a fundamental pillar of the Nordic’s carbon-neutral electricity production.”
The company said the renovation will involve the replacement of three turbines and a significant restructuring of the facility to ensure it can provide flexibility to the power system and supply fossil-free electricity to Sweden.
The machinery upgrade means the annual electricity production will increase from 270GWh up to approximately 300GWh.
Untra was initially constructed in late 1911 to provide Stockholm with electricity and despite the capital’s growing demand for power, which exceeded the plant’s capacity in less than eight years, it has remained an important part of the Swedish grid.
Of the total investment, about half is classified as growth capital expenditure. The investment is already included in Fortum’s committed growth capital expenditure of €800m for 2023-2025.
Source : reNEWS