For a cleaner world
We engage our customers and society to drive the change towards a cleaner world. Our role is to accelerate this change by reshaping the energy system, improving resource efficiency and providing smart solutions. This way we deliver excellent shareholder value.
Fortum's strategy has four cornerstones: (1) drive productivity and industry
transformation, (2) create solutions for sustainable cities, (3) grow in solar and wind, and (4) build new energy ventures.
productivity and industry transformation
entire energy sector is transforming, our first priority is consolidation of
generation business in Europe. This includes at least one sizable acquisition
in the next few years. This will maximise our opportunities for growth and
ensure our competitiveness, we will continue to optimize our cost and asset
portfolio in all businesses. We aim to reduce the fixed cost base in our current operations by EUR 100 million
by the end of 2017.
#2 Create solutions for sustainable cities
of our city solutions has broadened to include efficient resource management
within the circular economy. The Ekokem acquisition offers us a good platform
for new types of solutions outside the traditional energy sector. Further
organic and/or acquisition based growth of City Solution will also be
considered, mainly in Europe.
Growing cities and urban areas are facing multiple
challenges, such as high emissions from inefficient heating, cooling and
electricity production, increasing amounts of waste, and high traffic pollution
and noise. Fortum aims to use its expertise and experience to help cities solve
these challenges sustainably and to support building a circular economy.
in solar and wind
our longer-term competitiveness, we will continue to develop the solar and wind
business. In wind, we will focus on areas closer to our current home markets,
in the Nordics and in Russia. In solar, the immediate focus is in India. The
next step will focus on the system integration, combining solar with other
components such as new consumer solutions, demand response, electric vehicles
We target a gigawatt-scale solar and wind portfolio.
These technologies are rapidly maturing. At the same time, utility competences
are becoming increasingly important as subsidy schemes are gradually being
phased out and renewable energy production is becoming more market-based.
new energy ventures
acquire and invest in start-ups and funds that focus on energy-related
technologies, because technological and digital disruption accelerate energy
sector transformation. Start-ups have an increasingly important role in innovating both new
technologies and business models in the changing energy industry landscape.
Digitalisation will enable productivity improvements in the existing businesses
and development of new customer offerings.
goal is to be in the forefront of energy technology and application
development. To accelerate innovation and commercialization of new offerings,
we will strengthen our in-house focus on innovation and digitalization, partner
with global leading suppliers, promising technology companies and research
institutions, as well as make direct and indirect investments in start-ups with
encouraging new innovations.