Solar Economy

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Theme: Solar Economy. Fortum’s general view on transitioning to a solar economy. WHO Maria PaateroKaarnakari Head of Fortum’s Asian operations 1 February 2012 onwards. Senior Vice President, Corporate Strategy and R&D, since 2009. Born 1955, MSc (Eng). Member of the Management Team since 2007. Employed by Fortum since 1985. tomorrow’s resource-efficient energy production. In CHP production, the energy content of the primary energy, i.e. the fuel being used, is utilised much more efficiently than in traditional production forms,” Maria Paatero-Kaarnakari explains. For example, the efficiency of a conventional heat plant is usually about 35–45%, so over half of the fuel’s primary energy is wasted. In the CHP process, the efficiency is as high as 90%. In fact, Fortum is well positioned because it has a total of 20 CHP plants in europe as well as solid know-how in CHP production and its development. The company is the fourth largest heat producer in the world. NEw aNd old, SidE-By-SidE The journey to Solar economy will not happen overnight. nor will today’s energy production forms be abandoned along the way. ”Transitioning to a solar economy is a long-term process. The current energy production forms are likely to be utilised until they are no longer financially feasible and until the structures have reached the end of their life-cycles. The lifetime of production plants is typically 30–40 years and even longer for nuclear power,” notes Paatero-Kaarnakari. nuclear power will continue to exist alongside the new forms of energy, but changes for it too can be expected. For example, small-scale nuclear power plants with passive safety solutions will be subject to closer examination in the aftermath of the Fukushima accident. ”Meanwhile, it is good to realise that we are already well on our way to Solar economy. Hydropower is used extensively around the world, and the use of wind power is increas- ing as well. For example, Fortum has 260 hydropower plants in the nordic countries, and hydropower accounts for over one third of our annual electricity production. In Sweden we are participating in the construction of europe’s biggest wind farm at Blaiken.” dirECT Solar ENErGy, ParTiCularly From FaVouraBlE rEGioNS ”The wide-scale utilisation of direct solar energy at different latitudes is advancing at the pace of technology development. Programmes to utilise solar energy have been launched in the most favourable regions. For example, India is decisively implementing its national Solar Mission programme and aiming for 20 gWs by 2022.” also, Wave power is locationdependent. ”developing new production forms takes persistent efforts. We started developing wave power in 2007, and today Fortum is taking part in two demonstration projects,” says Paatero-Kaarnakari. VirTual PowEr PlaNT The energy production of the future will be more distributed than traditional energy production, which is a centralised economy of scale. What does this look like for a major player like Fortum? ”Resources will be combined, e.g. virtual power plants will be built: small units will be combined into a bigger entity that has the capacity of a large plant. This will undoubtedly require new business models. and we are already exploring these in the context of our solar electricity projects,” outlines Paatero-Kaarnakari. Fortum forAgendA 13

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