Fortum has agreed to sell its 30%-stake in the Swedish power company Karlshamns Kraft AB to the company's majority owner E.ON. The transaction 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 the resource-efficient combined heat and power production.
The sale will have a minor impact on Fortum’s Power Division’s first quarter 2014 results. The parties have agreed not to disclose the sales price.
Karlshamns Kraft operates in southern Sweden where it owns three oil condensing units 340 MWe, each. The company also owns seven oil caverns with a total capacity of 800 000 m3 and a harbour. Karlshamns Kraft has participated in the Swedish Reserve Power scheme several times. The latest agreement started in November 2013 with two units.
Sasu Valkamo, Vice President, Co-owned Nuclear & Thermal, tel. +358 50 453 2232
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