Neste and Fortum to continue energy partnership with a new bilateral agreement

Neste, with production of renewable diesel and sustainable aviation fuel on three continents as well as production of high-quality oil products in Finland, and Fortum, one of the energy producers with the lowest specific CO₂ emissions in Europe, are continuing their energy partnership with a new bilateral agreement for 2026-2030.

Under the agreement, Fortum will supply Neste's Finnish operations with a total of approximately 2.6 terawatt hours (TWh) of electricity from Fortum's Nordic production portfolio.

“Neste’s refinery in Porvoo uses a significant amount of electricity, and securing the supply is critical for ensuring uninterrupted operation. This new agreement provides us with greater predictability while securing a stable electricity supply for the refinery,” says Jori Sahlsten, Executive Vice President of Oil Products at Neste.

The partnership is a concrete example of how long-term agreements can ensure energy availability in the future.

“At Fortum, customers are at the core of our strategy. By entering into long-term partnerships with us, our customers can ensure efficient and reliable energy procurement. I am extremely pleased that Neste chose Fortum as their trusted partner.” said Urs Pennanen Senior Vice President, Corporate Customers.

Fortum aims to advance the electrification of industry and society as part of the energy transition. The company’s target is that the hedged share of rolling 10-year outright generation volume is more than 25% by the end of 2028. The agreement with Neste is one of the milestones in reaching this target.

More information
Fortum NewsDesk, +358 40 198 2843, newsdesk@fortum.com

Neste in brief
Neste (NESTE, Nasdaq Helsinki) is the world's leading producer of renewable diesel and sustainable aviation fuel (SAF), with production on three continents. The company’s renewables production capacity is expected to reach 6.8 million tons annually in 2027. Neste also produces high-quality oil products at its Porvoo refinery in Finland. The company has a network of nearly 1,000 fuel stations with expanding service offering, such as EV charging, in Finland and in the Baltics.

Neste’s strategy focuses on growth in renewable fuels, which help its customers to reduce their greenhouse gas emissions. Neste is included in many international indices for its sustainability performance. In 2025, Neste's revenue stood at EUR 19.0 billion. Read more: neste.com neste.com - External link

Fortum
Fortum is a Nordic energy company. We generate and deliver reliable energy to our customers and the Nordic energy system while at the same time helping industries decarbonise their processes and grow. Our core operations comprise efficient and best-in-class low-carbon power generation, customer services, and heating and cooling. Fortum’s power generation is already 99% from renewable or nuclear sources with one of the lowest specific CO2-emissions in Europe. We are guided by our ambitious SBTi-validated emission reduction targets on our way towards net-zero by 2040. For our ~4,500 employees, we commit to be a safe and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com