Fortum signs EUR 1,750 million syndicated Multicurrency Revolving Facility Agreement

Fortum Corporation has signed a EUR 1. 75 billion syndicated Multicurrency Revolving Facility Agreement. The company will use the committed facility for general corporate purposes and replaces the existing credit facility signed in July 2011. The facility has an initial maturity of five years and Fortum may request two one-year extension options. The company in […]

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Fortum has made an indicative, non-binding offer to acquire Ekokem

Fortum has made an indicative, non-binding offer to the four biggest shareholders in Ekokem to acquire their shareholding in the company. The biggest shareholders are Finnish State, Association of Finnish Local and Regional Authorities, Ilmarinen Mutual Pension Insurance Company and Helsinki Region Environmental Services Authority HSY, representing more than 80% of the shares. Fortum does […]

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Fortum launches Nordic countries’ biggest electricity storage pilot project

Fortum has announced the launch of Nordic countries’ biggest electricity storage pilot project integrating Saft’s megawatt-scale Li-ion (lithium-ion) battery energy storage technology. The company in a statement said “the objective is to research the suitability of batteries used for storing electricity to maintain a power balance in the electricity system. Additionally, the research will explore […]

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Firms not doing well will not impact India’s solar programmes: Piyush Goyal

Renewable Energy Minister Piyush Goyal at an event organized by industry body CII said that some firms not doing well will not impact the programme’s success reports PTI. When asked about the debt problems faced by SunEdison, Goyal said “there are always certain cases of firms failing all over the world in every industry. There […]

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Fortum announces to invest EUR 200–400 million in solar projects in India

Finnish utility firm Fortum on Tuesday announced to invest euros 200-400 million (Approx. Rs 15100-30200 crore) in solar power projects in India. Fortum in a statement said “the country offers one of the best solar resources and a sound government support for the development of the solar sector. The country provides a good platform for […]

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