Wärtsilä to Deliver Another Major Power Plant to Pakistan - Value of the Deal EUR 137 Million

HELSINKI - Wärtsilä has received another major order from Pakistan. The order was
placed by Liberty Power Tech Ltd. which is an independent power producer
(IPP). The value of the contract is approximately EUR 137 million. The total
gross electrical power output of the power plant is 200 MWe and the plant
will be located near Faisalabad some 200 km west from Lahore.

The power plant is due to be commissioned in December 2010 and it will
supply electricity to the country’s national grid. This order follows three
other IPP projects signed by Wärtsilä in 2007 and 2008. Including these last
four orders the total generating capacity delivered by Wärtsilä to Pakistan
will exceed 1700 MWe.

The Liberty Power Tech combined cycle solution is an EPC (engineering,
procurement and construction) order and it will comprise eleven Wärtsilä
18V46 generating sets. In addition to the equipment supply, Wärtsilä will
also erect, test and commission the plant and provide local construction
supervision. An O&M contract to operate and maintain the power plant is also
under negotiation between Wärtsilä and the customer.

“Wärtsilä and Liberty Power Tech have worked together as one team
throughout the development of the project. The need for power generation and
energy production is growing rapidly in Pakistan. With Wärtsilä’s strong
support and advisory services we have been able to arrange the financing for
the power plant project,” says Mr Ashraf Mukaty, Sponsor Director of Liberty
Power Tech Ltd. The company is owned by Salim Mukaty and his family, who also
own Liberty Mills, one of the leading textile groups in Pakistan.

The Liberty Power Tech power plant will have a notably high overall
efficiency of 45 percent for the lifetime of the plant when running on heavy
fuel oil at site conditions. This level of efficiency on low-cost fuel oil
will enable the generating costs to be very competitive.

“We are especially pleased to have been awarded this project contract,
and look forward to serving Liberty Power Tech throughout the lifecycle of
the project. This order endorses not only the reputation of the Wärtsilä
equipment, but also the service capability that we are able to provide from
our office and workshop in Lahore,” says Nomi Ahmad, Regional Director,
Middle East, Wärtsilä Power Plants.

Liberty Power Tech has signed a Power Purchase Agreement with the
National Transmission & Despatch Company, and an Implementation Agreement
with the Government of Pakistan under the 2002 Energy Policy of Pakistan.

www.wartsila.com

Wärtsilä in brief

Wärtsilä enhances the business of its customers by providing them with
complete lifecycle power solutions. When creating better and environmentally
compatible technologies, Wärtsilä focuses on the marine and energy markets
with products and solutions as well as services. Through innovative products
and services, Wärtsilä sets out to be the most valued business partner of all
its customers. This is achieved by the dedication of close to 19,000
professionals manning 160 locations in 70 countries around the world.

Source: Wartsila Corporation

For further information, please contact: Mr Christoph Vitzthum, Group Vice President, Wärtsilä Power Plants, Tel: +358-10-709-5670, christoph.vitzthum at wartsila.com; Mr Atte Palomäki, Group Vice President, Communications, Wärtsilä Corporation, Tel: +358-40-547-6390, atte.palomaki at wartsila.com; For investor information, please contact: Ms Josephine Mickwitz, Director, Investor Relations, Tel: +358-400-784-889, josephine.mickwitz at wartsila.com