French engineering firm Alstom SA (ALO.FR) Friday said it has signed a contract worth up to EUR950 million to build a power plant for a unit of Estonia's state-owned utility Eesti Energia.

The power plant will be fired with fossil fuels, Alstom said in a statement. The Estonian utility has signed for the construction of a first EUR540 million unit, with an option for a second EUR410 million extension.

Alstom will be responsible for the conception, construction, supply and installation of the plant.

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