FORTUM CORPORATION PRESS RELEASE 20 March 2018
Fortum has signed a significant multi-year agreement to buy and sell to the Nordic electricity markets the wind power produced by the financial services group Taaleri. The agreement term starts 1 April 2018.
Fortum won the tender round arranged by Taaleri for the purchase of the company’s entire annual wind power production in Finland. Taaleri’s wind power portfolio is the second largest in Finland. Its total output is 312 MW and annual production about 1 TWh, which equates to about 1.5% of Finland’s annual electricity production in 2017.
According to the agreement, Fortum will purchase the wind power generated by the 13 different wind farms in Taaleri’s portfolio and sell it to the Nordic electricity markets through the Nord Pool electricity exchange.
“Taaleri’s wind portfolio is one of the largest in Finland, as is this newly signed wind power purchase and balance agreement. It is wonderful that we can help Taaleri to get the emissions-free wind power they generate to the Nordic electricity markets. At the same time, this supports the advancement of our own expertise in wind power,” says Saara Rantanen, Originator and B2B Sales, Fortum.
Buying Taaleri’s wind power production and selling it to the Nordic electricity markets aligns very strongly with Fortum’s targets to increase the share of electricity produced with renewable energy in the Nordic electricity markets and to reduce carbon dioxide emissions from energy production into the atmosphere.
“We have purposefully built our renewable energy strategy. Through our collaboration, we are able to combine Taaleri’s significant expertise in renewable energy with Fortum’s extensive knowledge of the Nordic electricity markets,” notes Olli Hagqvist, Production Manager, Taaleri Energia.
Saara Rantanen, Originator and B2B Sales, Fortum, +358 40 552 2244
Olli Hagqvist, Production Manager, Taaleri Energia, +358 50 551 44
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2017, our sales were EUR 4.5 billion. Fortum’s share is listed on Nasdaq Helsinki. www.fortum.com
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki’s main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Oy Group and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, Inderes Oy, which produces analyses and market information for investors, and Ficolo Oy developing data centers.
At the end of December 2017, Taaleri had assets under management totaling 5.6 billion euro and 4,400 wealth management customers. Taaleri Plc has some 3,900 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.