Fortum is selling its Tohkoja wind power project located in Kalajoki, in western Finland, to wpd europe GmbH, part of the international wpd group.
The Tohkoja project is located in the Vasankari and Pohja villages of Kalajoki municipality. A wind park comprising a total of 26 wind power plants with a combined output of up to 83 megawatts is planned in the area.
Fortum is responsible for acquiring the remaining construction and environmental permits. The transaction will be implemented in phases and is expected to be completed during the second quarter of 2014. The transaction will have a minor positive impact on Fortum’s financial results and will be booked in Fortum’s Power Division’s financial results over several quarters. The parties have agreed not to disclose the sales price.
The sale of the wind power projects is part of Fortum’s efficiency programme launched in October 2012. The core of Fortum’s strategy lies in the company’s strong expertise in CO2-free hydro and nuclear power and in efficient combined heat and power production.
“According to our strategy, we focus on hydropower, biofuels as well as solar and wave power development within renewable energy,” says Risto Andsten, Vice President, Renewable Energy at Fortum.
Risto Andsten, Vice President, Renewable Energy, Fortum, tel. +358 50 453 3988
Fortum’s purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.
Fortum’s operations focus on the Nordic countries, Russia, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2012, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion. We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki. Additional information: www.fortum.com
Headquartered in Germany, wpd is an international developer and operator of on- and offshore wind farms. The company has realised construction projects of more than 1,500 wind turbines with a total capacity of 2.5 GW. Through its subsidiary wpd Finland Oy, Espoo, wpd is working on a Finnish onshore wind power pipeline of some 600 MW, and in addition is developing the 400-MW Suurhiekka offshore wind project. The company also has projects under way in the Kalajoki-Pyhäjoki area.