Customer-centricity is key to driving the clean transition

We are a European power company with one of the lowest carbon emissions committed to science-based short- and long-term climate targets. Fortum's commitment to renewable energy is driven by a strong desire to contribute to the environment through low-carbon electricity production. This is done in close collaboration with customers, meaning that the transition is not just an internal process but a joint effort. 

Comprehensive low-carbon energy portfolio to meet customer demands

Fortum's uniquely broad portfolio, which includes hydropower, nuclear power, wind power, and a growing pipeline of solar power projects, gives us long-term stability when Nordic countries are balancing the supply and demand of electricity.

In wind and solar power, we are preparing a Nordic pipeline of at least 800 MW ready-to-build projects by the end of 2026 to serve customer demand. In January 2025, we strengthened our renewable power pipeline by acquiring Enersense’s Finnish project portfolio. The conditions for wind power in the Nordics are excellent, with large land areas available and strong winds. For solar power, the latest technology has increased efficiency so much that even the Nordic markets are attractive to developers. Also, the land availability in the Nordics makes large, over 100 MW solar projects possible, while in central-western Europe, sizes are typically only 10 - 50 MW. 

Balancing electricity demand and production is becoming a major challenge, which also requires significantly more flexibility in the power system. We have recently announced a two-year feasibility study to explore prerequisites for new pumped hydro storage plants in Sweden. Pumped hydro storage offers much-needed flexibility to the Nordic energy system and increases predictability for households and industries. Pumped hydro storage has the ability to both produce, store and consume electricity during long periods of time and in great amounts, reaching up to thousands of megawatts.

Navigating challenges and building trust: Fortum's commitment to responsible renewable energy in the Nordics

Also, renewable energy projects have an impact on both nature and people. Therefore, listening to concerns, finding common solutions with local stakeholders and promoting a responsible way of working are crucial to make the clean transition reality. Fortum is a reliable partner for landowners and municipalities, with quality-assured projects and a comprehensive solution that includes planning, construction, electricity sales, operation and restoring or repowering after the power plant’s life cycle.

We currently co-own six wind farms in the Nordics of which three are located in northern Norway. The Norwegian government recently launched “Power and Industry Boost in Finnmark Konsesjonsprosesser i Finnmark - NVE Konsesjonsprosesser i Finnmark - NVE - External link”, aiming to electrify industries in the area, and a new process to build onshore wind power in Finnmark. Together with our partner Nordkraft, we are now developing several large-scale wind power projects in the region.

Three points: Dialogue, patience, and innovation

Customer dialogue: Make sure you have ongoing discussions and interactions with customers. This is the most important channel to hear about the market and keep up with the trends. 

Accept that deals take time: Gigawatt-scale, decade-long contracts are often measured in hundreds of millions - even in billions - of euros and require large efforts of both sides. Both seller and buyer have their business cases and own investments to make.

Develop with the customer: Understand that clients may not always desire exactly what you are currently able to provide. Typically, the most flexible and competitive offering secures the customer. Engage in pilots and tests with the customer to build a strong connection. Adapt your organization to be ready for development. Currently Fortum is working on several projects where entirely new offerings are being developed.

By integrating sales and production in a way that is advantageous for both parties, innovative solutions can be created that drive the clean transition forward.