Finland’s Fortum to launch €8bn bid for E.ON’s Uniper

Finnish power utility Fortum is to launch an €8 billion (£7bn) takeover offer for E.ON’s Uniper. The bid for E.ON’s 46.65% interest amounts to €3.76 billion (£3.3bn). The total equity value of the offer is €8.05 billion (£7.05bn) for all outstanding shares of Uniper. The firms have signed an agreement, under which E.ON has the […]

E.ON in advanced talks over Uniper sale

German energy company E.ON has advanced negotiations over the sale of its stake in its fossil generation business Uniper. It said Finnish utility Fortum is planning to buy a 46.65% stake in the spin-off firm. The energy supplier added in a statement: “Fortum’s offer to all Uniper shareholders would comprise a cash consideration with a […]

Solar energy takes off at Helsinki Airport

Helsinki Airport is to have a 500kW solar power plant installed on its roof. The move forms part of airport operator Finavia’s plan to go 100% carbon neutral across its 21 sites by 2020. At Helsinki Airport, this goal will be reached in 2017 with the installation of the solar roof at Terminal 2. At the same […]

Finnish ferry finally forgets fossil fuels

The oldest operating ferry in Finland has been converted to electric power. Heavy duty electric vehicle and machinery manufacturer Visedo retrofitted the historic Föri ferry in the city of Turku with a new zero emission drivetrain to deliver greater efficiency, less noise and reduced operating costs. The boat, which was previously converted from steam power to […]

Finland unveils plans to phase out coal by 2030

Finland has announced it will phase out coal by 2030. That’s part of the government’s ‘Energy and Climate Strategy for 2030 and Beyond’, which aims to get rid of the dirty fossil fuel from its energy system and reduce oil imports by half in the next 14 years. The country also plans to make its […]

Finland-Estonia gas interconnector gets €187m

The European Commission has signed a deal to invest €187 million (£166.43m) in a gas interconnector between Finland and Estonia. The Balticonnector is the first gas interconnector which links the two countries and will allow Finland to enter the rest of the EU market as it is currently largely dependent on a single supplier. The EU funding will […]

Finnish utility takes legal action against French nuclear giant Areva

Finnish utility Teollisuuden Voima (TVO) has launched legal action against French state-controlled nuclear giant Areva. The Finish firm wants assurance of no further delays at its Olkiluoto 3 (OL3) EPR nuclear reactor in Finland. The project has faced numerous delays and is therefore behind its original schedule but TVO wants to ensure it is ready […]

EU approves €28m aid for Finnish LNG terminal

Plans to grant €28 million (£22m) in public funds to build a Liquefied Natural Gas (LNG) terminal in Finland have won approval from the European Commission. It said the proposal is in line with EU state aid rules and doesn’t distort competition. Located at Hamina on Finland’s South East coast, it will have a storage capacity of […]

Finland to build nuclear waste facility

A nuclear fuel disposal facility is to be built in Finland. The country’s government has given the green light for the construction of the site in the island of Olkiluoto from 2020. Around 6,500 tonnes of uranium will be stored in a depth of around 400 metres. Nuclear waste management company Posiva has been selected […]

Vestas wins 93MW order in Finland

Vestas has been awarded a contract to supply wind turbines to a project in Finland. The Simo III wind farm is expected to have a capacity of 93MW. The Danish manufacturer claims it will be the largest wind project in the country. It will deliver 27 turbines with a capacity of 3.45MW each. Vestas will also install and […]