E.ON completes €3.8bn Uniper sale to Fortum

It follows approval from the European Commission and the Russian Antimonopoly Authority

EU approves Fortum’s purchase of German energy firm Uniper

Its investigation found the transaction would raise no competition concerns in the European Economic Area

Fortum to install 10MW rooftop solar project in Finland

The panels will be spread across the rooftops of approximately 40 commercial buildings in Finland

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 […]

Finland goes large on geothermal

Finland is set to build its first industrial size geothermal plant in 2016 to heat its second largest city. It will crank out up to 40 megawatts of geothermal heat for the southern city of Espoo, which neighbours Helsinki 20 kilometres to the west. Finnish energy companies Fortum and St1 reckon it can supply up to 10% of the heating requirements for Espoo’s district heat network. Geothermal […]

Finland boosts stake in gas utility to 75%

The Finnish Government has agreed to buy stakes in the nation’s gas company, becoming a majority shareholder in Gasum. It is purchasing 31% of the stake from Fortum and 20% of the share from E.ON – boosting its ownership to 75% – for €510 million (£398m) in total. Russia’s Gazprom – Finland’s sole natural gas […]

Cornwall attracts Finnish wave power test

Finnish energy company Fortum is testing its wave power technology in Cornwall. Today it announced a deal with the UK-based Wave Hub which has testing sites 16km off the Cornish coast in the Atlantic Ocean. They picked the site to trial wave power converters in “favourable ocean conditions”. Fortum’s Chief Technology Officer Heli Antila said: […]

Finnish energy firm complains about triple tax bill

Finnish energy company Fortum is calling on the EU to clear up its tax policies after it was apparently billed for tax in three countries for the same revenue. The firm suggested the economic recession is tempting countries to tax the same earnings “multiple times”. That’s despite international agreement that income will be taxed only […]

EU carbon price back-loading earns second chance?

Beleaguered plans to postpone or “backload” carbon allowances under the EU’s Emissions Trading Scheme have been given a boost after MEPs on the EU’s environment committee voted for them a second time. The EU ETS is meant to push businesses towards cutting their emissions by putting a cost on the carbon they emit but allowances […]

Future looks uncertain for Finnish coal plant

The future looks uncertain for a Finnish coal plant after its owner said it is considering partially or fully closing it among a number of options. The news suggests a difficult time for generators in Europe hit by changing power prices and EU pollution laws. The Inkoo power plant on the south coast of Finland […]