Fortum and Uniper launch joint team for Nordic hydropower and physical trading optimisation

01 February 2022, 09:00 EET

Hydro power

In December 2020, Fortum and Uniper announced three strategic cooperation areas to ensure focused and effective implementation of the Group strategy: one of the cooperation areas was for the two companies Nordic hydro and physical trading operations. In May last year, we announced our intention to develop a joint team within this area with a planned launch during Q1-2022.

Today the joint team is being launched and 165 Swedish Uniper hydropower and physical trading optimization professionals join Fortum, and we will continue as one team on our critically important task: providing CO₂-free and flexible hydropower that is a key enabler to help decarbonize Nordic societies. Hydropower also plays a key role in Fortum’s strategy on our journey for a cleaner world.

“Joining forces enables us to adopt best practices from both companies to improve our daily operations and safety performance. The One Team set-up is also expected to create more value for both Fortum and Uniper compared to optimising two portfolios separately”, says Simon-Erik Ollus, Executive Vice President of Fortum Generation.

As one team, we’ll operate and maintain 190 flexible hydropower plants in Sweden and Finland. Fortum takes responsibility for Uniper’s hydropower asset management in Sweden as well as physical trading optimization and dispatch activities in the Nordics. The ownership of Uniper’s hydropower assets stays with Uniper.

In December 2020, Fortum and Uniper announced three joint cooperation areas (Nordic hydro and physical trading optimisation, wind and solar development, and hydrogen) to ensure the focused and effective implementation of the Group strategy. In May 2021, the companies announced finalising the planning phase of the One Team Cooperation.