Fortum divests its Haapavesi power plant

10 November 2006 — Fortum sold its 154 MW peat-fired power plant in Haapavesi, Finland, to Kanteleen Voima Oy, which is owned by a group of regional energy companies.

The divestment is one of the conditions set by the Finnish Competition Authority for the realization of Fortum’s E.ON Finland (now Fortum Espoo Oy) acquisition. The goal is to turn over the power plant to its new owner in the beginning of December. The employees of the power plant are offered a continuation of their employment at Kanteleen Voima.

Fortum has previously fulfilled the following other conditions set by the Competition Authority:

  • Fortum has sold its combined heat and power plant in Hämeenlinna.
  • Fortum has sold the equivalent of 1 TWh/a of constant generation capacity in the Finnish area. The delivery of the capacity begun on 1 November 2006 and will continue until 31 March 2011.
  • Fortum has signed a lease contract over its 308 MW share of the Meri-Pori power plant. The lease will begin on 1 January 2007 and end on 30 June 2010.
    Fortum will report on the fulfillment of the terms to the Competition Authority.