Our business

Fortum reorganised its corporate structure as of 1 April 2016.

The new organisation consists of three business divisions: Generation, City Solutions and Russia. In addition, two development units focusing on growing new businesses are established: M&A and Solar & Wind Development as well as Technology and New Ventures.

This division is responsible for the large scale power production, physical optimisation and trading activities in the Nordic area. The division comprises nuclear, hydro and thermal power production, portfolio management and trading, industrial intelligence and nuclear services. Generation is headed by Tiina Tuomela.

City Solutions
This division is responsible for developing sustainable city solutions into a growing business for Fortum. The division comprises heating and cooling, waste to energy, biomass and other circular economy solutions as well as electricity sales and services. It includes the service business currently organised in the Power Solutions unit with exception of nuclear services. City Solutions is headed by Markus Rauramo.

Russia division comprises Fortum's power and heat generation and sales activities in Russia. The division is headed by Alexander Chuvaev, who also acts as General Director, OAO Fortum.

Technology and New Ventures
In order to speed up innovation and new business development, a new unit, Technology and New Ventures, has been established. This unit is responsible for Fortum's research and development activities and is the in-house incubator for startups. It is also responsible for direct and indirect investments in external startups as well as cooperation with universities and research institutions. Furthermore, Fortum's Corporate IT is part of this unit and its role is developed to a strategic enabler of digitalisation and information technology solutions and applications for the businesses. The unit is headed by Per Langer.

M&A and Solar & Wind Development
Fortum strives to create value by driving utility industry consolidation and restructuring through transformational mergers and acquisitions in its current home markets and in the integrating European market. The company also targets a gigawatt-scale solar and wind portfolio. These efforts are centralised under a new unit dedicated to leading group-wide mergers and acquisitions and the development of the solar and wind portfolio. The unit is headed by Kari Kautinen.