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Norske Skog and NTE enter into long-term energy contract

Norske Skog has signed a long-term energy contract with NTE (Nord-Trøndelag Elektrisitetsverk) for the supply of electricity for the paper mill at Skogn.

Safe and good production year at Fortum's Loviisa nuclear power plant

The year 2011 was a safe and good production year at Fortum's Loviisa power plant. There were no incidents reaching the International Nuclear Event Scale (INES) of significant events concerning nuclear or radiation incidents.

Fortum to sell its Estonian electricity sales and transmission company to Imatran Seudun Sähkö

Fortum and Imatran Seudun Sähkö have today signed an agreement according to which Imatran Seudun Sähkö will purchase Fortum Elekter AS, Fortum’s subsidiary in Estonia. In conjunction, Fortum will give up its share of Imatran Seudun Sähkö Oy. The ownership and proprietary rights will transfer from Fortum to Imatran Seudun Sähkö at the turn of the year.

Fortum to sell Fortum Energiaratkaisut Oy and Fortum Termest AS to the EQT Infrastructure Fund

Fortum Corporation, Stock exchange release, 2011-12-19 07:30 CET (GLOBE NEWSWIRE) -- Fortum has agreed to sell Fortum Energiaratkaisut Oy and Fortum Termest AS to the EQT Infrastructure Fund. The total sales price, including net debt, is approximately EUR 200 million.

Fortum to establish an office in India

A key element in Fortum's strategy is the pursuit of new growth opportunities particularly in fast growing markets. As a part of this strategy implementation, Fortum is establishing an office in India to evaluate and develop concrete growth initiatives.

Vattenfall Third Quarter: Consolidation on Track and Improved Underlying Operating Profit

Vattenfall reports an operating profit for the third quarter 2011 of SEK 4,447 million (5,829). The underlying profit has improved, and the Group delivered on its strategy of streamlining operations and consolidating its financial position.

Swedish nuclear reactor shut after minor fire

A Swedish nuclear reactor was shut down yesterday after a fire broke out in the turbine hall of the plant some 310 kilometres south of the capital Stockholm.

Fortum divests its minority share in a Norwegian electricity supplier

Fortum has signed a contract according to which the company will sell its 24.5% ownership of the Northern Norwegian electricity supplier Ishavskraft AS to other shareholders of the company: Alta Kraftlag SA, Ymber AS, Repvåg Kraftlag SA and Luostejok Kraftlag SA.

Nord Pool Spot and EPEX SPOT cooperate to create Joint Venture

The power exchanges Nord Pool Spot and EPEX SPOT recently signed a Letter of intent in order to create a Joint Venture, to build a joint system platform and later operate this platform together.

Iran Wants to Build Oil Refinery on Bulgaria's Black Sea Coast

Iran is interested in building an oil refinery in the Bulgarian Black Sea city of Varna, Iranian Ambassador to Bulgaria Golamreza Bageri Mogadam has announced.

Annual outage at Fortum's Loviisa nuclear power plant begins

The annual outage at Fortum's Loviisa nuclear power plant starts on Sunday 21 August. Loviisa unit 1 will undergo the outage first, followed by unit 2 right thereafter. The work on unit 2 is estimated to be completed by the end of September.

Vattenfall sells its Polish business

Sales agreement signed for Vattenfall's assets in Poland. Agreements with Polish companies Tauron and PGNiG include all generation and distribution facilities for a total cash consideration of approximately EUR 1.8 billion. The transactions are expected to be completed by the end of 2011.

Statkraft to build several wind farms in Sweden

Statkraft has decided to build Stamåsen 1 wind farm in Sweden. This means that from September, Statkraft will have two large wind farms under construction in Central Sweden, strengthening its position as the largest player in renewable energy in Europe.

Satisfactory operations and extraordinary write-downs

In the second quarter, Statkraft achieved good results in the underlying operations. Through lower production, but higher prices, the underlying(*) operating profit before depreciation (EBITDA) amounted to NOK 1822 million, compared with NOK 1733 million in the corresponding quarter last year. As a result of unrealised changes in value on energy contracts and write-down of the shares in E.ON AG, the posted loss after tax was NOK 929 million, compared with a profit of NOK 1063 million in the second quarter of 2010.

EU wind sector calls for binding 2030 target

The EU must adopt a binding renewable energy target for 2030 to secure long-term investment in renewable energy.

Critics Fear Finnish Company Can Be Russia's 'Trojan Horse' in Bulgarian NPP

Finnish company "Fortum" could be the "Trojan horse" of Russian state company Rosatom in the project for the second Bulgarian nuclear power plant Belene, according to the rightist Blue Coalition.

Russia approved two Fortum Joint Implementation projects

The Ministry of Finance of the Russian Federation has approved two Kyoto Joint Implementation projects initiated by Fortum: a new unit at the Tyumen combined heat and power (CHP) plant, and the reconstruction of TGC-1’s Newsky hydropower plant.

Fortum to participate in French hydropower concessions bids

-- Fortum is preparing to participate in the tender processes for hydropower concessions in France, which are expected to officially start in 2011. According to Fortum’s strategy, the company’s long-term focus is selective growth in the integrating European power market, the Nordic countries and Russia.