Fortum, a leading clean energy company, together with Swedish nuclear technology expert Studsvik, have signed a Memorandum of Understanding (MoU) to investigate new nuclear energy options in Sweden. This collaboration marks a significant move in Fortum’s ongoing feasibility study aimed at exploring new nuclear business opportunities in both Finland and Sweden. Laurent Leveugle, Fortum’s Vice […]
Fortum has wrapped up the previously announced SEK 29.5 billion (€2.9 billion) of its 50% stake in Stockholm Exergi Holding, a Swedish district heating and cooling company. The Finnish state-owned energy company had sold the stake to a consortium of European institutional investors of APG, PGGM, Alecta, AXA, and Keva, which is represented by Ankhiale […]
Fortum is partnering with the Russian Direct Investment Fund (RDIF) to construct a 116MW solar power plant project in Kalmykia in Southern Russia. According to the Finnish energy company, the Russian solar power plant will be installed in two phases. The first phase with a capacity of 78MW is scheduled to be commissioned in Q4 […]
Sandoz, a division of the Swiss pharmaceutical giant Novartis, has finalized a deal to acquire the cephalosporin antibiotics business from GSK (GlaxoSmithKline) for up to $500 million. This acquisition grants Sandoz global rights to three major antibiotic brands: Zinnat, Zinacef, and Fortum in over 100 markets, significantly enhancing its position in the antibiotics market. Exclusions […]
India-based IT company Wipro has secured an application management (AMS) and services integration and management (SIAM) contract from Fortum, a Finnish state-owned energy company. Under the five-year agreement, Wipro will manage the application portfolio of the Finnish company across hundreds of applications for 11,500 plus users in 18 countries. Besides, Wipro will have to give […]
Fortum has agreed to divest its district heating business in the Järvenpää-Tuusula region in Finland to a consortium made up of Vantaa Energy, Infranode, and Keva for about EUR 375 million. The deal marks a continuation of Fortum’s execution of its strategy, under which the Finnish energy company keeps on reviewing its businesses to streamline its […]