Finland’s Fortum to sell 54% Stake in Indian Projects

“This project demonstrates the growing maturity of India’s secondary market for renewables – creating an environment in which private investors have the confidence to invest in new greenfield projects that will accelerate the decarbonization of India’s economy” With an aggregate capacity of 185 MW in India, Finland’s Fortum sign an agreement to sell a 54% […]

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Fortum to Buy 35 MW of solar power capacity in Russia

The Finnish power utility has agreed to acquire three solar power companies from Hevel Group in Russia. Finnish power utility Fortum has agreed to acquire 35 MW of solar power in Russia from local group Hevel. The Finnish company said the seller was Russian solar module maker and project developer Hevel Solar, without disclosing the […]

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Fortum appoints Ingela Ulfves as VP, Investor Relations and Financial Communications

Ingela Ulfves joins Fortum from Eltel, an infrastructure service company listed in Sweden, where she has been responsible for the areas of investor relations, external and internal communications, marketing and brand. Ingela Ulfves, M.Sc. (Econ.), has been appointed as Vice President, Investor Relations and Financial Communications at Fortum starting in December 2017 at the latest. […]

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Swedish Court of Appeal Rules Against Fortum in Income Tax Case

Fortum will book a tax cost of 1,175 MSEK (EUR 123 million) in the second quarter 2017 results. The booking will not have any cash flow effect for Fortum, as the additional taxes and interest have already been paid in 2016. The Court of Appeal in Stockholm, Sweden on 30 June 2017 ruled against Fortum […]

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Fortum Plans to Commission 250 MW Solar Power Capacity Every Year

Fortum has announced that the company will be adding at least 250 MW solar capacity in India every year. Finnish firm Fortum has commissioned a 70MW solar PV plant in Rajasthan, which it won last year at what was then a record low tariff of INR4.34/kWh, is now eyeing to set up at least 250 […]

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Fortum Commissions a 70 MW Solar Power Project in India

Fortum has successfully commissioned its third and the biggest, a 70 MW solar power project at Bhadla with a fixed tariff for 25 years. Fortum has commissioned a 70-MW solar plant at Bhadla solar park in Rajasthan, India. The solar plant is Fortum’s third and so far biggest commissioned solar energy project. Fortum won a […]

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Fortum appoints Mikael Rönnblad as Executive Vice President, Consumer Solutions

Mikael Rönnblad will report to the President and CEO. Mr. Rönnblad and will have the overall responsibility for Fortum’s consumer business, including the development of new solutions and business models. Mikael Rönnblad, M.Sc. (Econ.), 47, has been appointed Executive Vice President, Consumer Solutions and member of Fortum’s Executive Management starting on 15 June 2017 at […]

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Fortum, Taaleri signs an agreement with Chempolis Oy to invest in the company

Fortum and Taaleri Kiertotalous Ky have entered into an agreement with Chempolis Oy to invest in the company. The agreement is part of a restructuring of Chempolis Oy’s ownership and financing, in order to strengthen the balance sheet and operations as well as open new growth areas. Fortum will invest approximately EUR 6.4 million and […]

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