Fortum, a player in the energy industry, has unveiled plans to invest over €60 million between 2023 and 2030 to revamp the historic 42MW Untra hydropower plant in Sweden, originally established in the year 1911.
This substantial investment reflects Fortum's steadfast commitment to its strategic priorities of delivering dependable clean energy and catalyzing decarbonization efforts across Nordic industries.
Executive Vice President of Hydro Generation at Fortum, Mikael Lemström, underlined the historical significance of the Untra power plant, stating, “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.” He emphasized that hydropower's adaptability and extensive energy storage capabilities continue to play a pivotal role in the region's carbon-neutral electricity production.
The comprehensive renovation of the Untra hydropower plant will entail the replacement of three turbines and a substantial restructuring of the facility. These measures are aimed at ensuring the plant's ability to provide crucial flexibility to the power system while delivering fossil-free electricity to Sweden.
One of the most notable outcomes of this machinery upgrade is the anticipated increase in annual electricity production. Figures are set to rise from the current 270GWh to an impressive approximately 300GWh, significantly contributing to Sweden's renewable energy output.
Untra, initially established in the late 1911s to supply Stockholm with electricity, quickly became an integral part of the Swedish grid. Despite the growing demand for power in the capital, which exceeded the plant's capacity in less than eight years, it has persevered as a vital element of the nation's energy infrastructure.
Notably, approximately half of the total investment in this transformative project is classified as growth capital expenditure, reinforcing Fortum's commitment to expanding its clean energy capabilities. This substantial investment has already been factored into Fortum's committed growth capital expenditure of €800 million for the period spanning 2023 to 2025.
As Fortum embarks on this ambitious modernization endeavor, it symbolizes a renewal of the Untra hydropower plant's century-old legacy, ensuring its continued contribution to the sustainable energy landscape of Sweden and the broader Nordic region.
