Fortum Oyj

Fortum Oyj

Fortum Oyj

Date Founded



CD Building,Keilaniementie 2-4,Espoo, Uusimaa 02150

Type of Company


Employees (Worldwide)



Power & Utilities

Company Description

Fortum Oyj engages in the generation, distribution, and sale of electricity and heat, as well as operation and maintenance of power plants. It operates through the following divisions: Generation, City Solutions, Consumer Solutions and Russia. The Generation division is responsible for the large scale power production, physical optimisation and trading activities in the Nordic area. It includes nuclear, hydro and thermal power production, portfolio management and trading, industrial intelligence and nuclear services. The City Solutions division is responsible for developing sustainable city solutions into a growing business. It comprises heating and cooling, waste to energy, recycling and expertise sales. The Consumer Solutions divison comprises of electricity sales, as well as some consumer business related parts of the technology and new ventures development unit. The Russia division comprises Fortum's power and heat generation and sales activities in Russia. The company was founded on February 7, 1998 and is headquartered in Espoo, Finland.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Chief Financial Officer

Acting Chief Financial Officer

Secretary & General Counsel

General Director, OAO Fortum

Executive Vice President-City Solutions

Executive Vice President-Consumer Solutions

Director & Executive Vice President-Generation Division

Senior Vice President-Business Technology

Senior Vice President-Corporate Affairs & Communications

Board of Directors

President & Chief Executive Officer at Fortum Oyj

Former Chief Executive Officer & Finance Director at Sanoma Oyj

Former Chief Executive Officer & Director at Sveriges Television AB

Chief Executive Officer at Oiltanking GmbH

Member, Management Board at ENCAVIS AG (Private Equity)

Former Head-Process Automation Division at ABB Ltd.

Vice Chairman at Teollisuuden Voima Oyj

Former Chief Financial Officer at Sasol Limited

Chief Executive Officer at Hainan Cihang Charity Foundation

Managing Director at Renewa Oy

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Fortum Oyj
Owners & Shareholders
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Ilmarinen is an active, profit-oriented investor which manages an investment portfolio that has been diversified both geographically and across a wide variety of asset classes, such as equities and shares, fixed income investments and real estate with a focus on Finnish securities. The firm typically establishes information about the investment allocation and the return on investments on a quarterly basis. Ilmarinen generally aims to select companies with good growth potential in which they take long-term positions. They support investment decisions with information obtained through their active ownership policy, which encourages fund managers to participate in shareholders' meetings, make full use of voting rights and keep in contact with the management of investees.

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Varma is an active, long-term and income-oriented investment manager, for which value is a secondary investment style. The firm manages a diversified portfolios invested primarily in fixed income, equities, real estate, and hedge funds. Fixed income investments are globally diversified between different bond issuers and maturities. Equity investments are diversified by geographic location, industry and company size. In Varma’s portfolio, listed equity investments seek the highest returns and are also the most volatile asset class. The firm has strived to identify investments with similar returns as equities but with less volatility. These include private equity investments and hedge funds. Varma uses derivatives to make diversified index-type investments in commodities. Their direct real-estate investments are located in Finland. Approximately 60% of Varma’s real estate investments are in the Helsinki area. In addition to rental flats, the portfolio includes all types of business premises, with the greatest weight on office and retail premises. Varma has increased the share of international real estate investments in its investment portfolio to improve diversification within the real estate portfolio.

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Elo’s investment operations aim to ensure the profitable, secure and responsible investment of employment pension assets. They seek to achieve good and sufficient returns on investments through the selected strategic allocation and success in internal asset class investment decisions. Their investment process is independent, autonomous and focuses on the long-term. Employee pension assets are invested in accordance with the company’s investment strategy and policy. The integrity of Elo’s investment process is emphasized by in-depth analysis and independent valuation of investment instruments in each asset class and the broad understanding of the investment markets.

Recent Transactions
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Credit Suisse Group AG, Credit Suisse Energy Infrastructure Partners AG purchase Fortum Oyj /Nordic Wind Asset Portfolio from Fortum Oyj

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Fortum Oyj purchases Uniper SE from Elliott Management Corp., Knight Vinke Asset Management LLC

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Fortum Oyj purchases CrisolteQ Oy

Transaction Advisors

Advised onFortum Oyj purchases Birka Energi AB

Investment Advisor

Advised onFörsta AP-fonden, Omers Infrastructure Management, Inc., Tredje AP-fonden (Private Equity), Folksam /Private Equity, Fortum Distribution AB /Private Group purchase Ellevio AB from Fortum Oyj

Investment Advisor

Advised onFörsta AP-fonden, Omers Infrastructure Management, Inc., Tredje AP-fonden (Private Equity), Folksam /Private Equity, Fortum Distribution AB /Private Group purchase Ellevio AB from Fortum Oyj

Legal Advisor

Advised onFortum Oyj purchases Uniper SE

Legal Advisor

Advised onFortum Oyj purchases Uniper SE


Advised onInfortar AS, Trilini Energy OU purchase Eesti Gaas AS from Fortum Oyj

Advisors & Consultants

President & Chief Executive Officer at Nokia Corporation

Key Stats and Financials As of 2019
Market Capitalization
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Enterprise Value / Sales
Enterprise Value EBITDAOperating
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Wello Oy develops technology for ocean-wave energy conversion . The company was founded by Heikki Paakkinen in 2008 and is headquartered in Espoo, Finland.

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Span Solution Oy provides solar electricity solutions both custom designed and standard packages for businesses, government, and residential sector. The firm's products include solar panels, batteries, charge controllers, power packs, solar pumping systems, and car-ports. Naps Systems offers off-grid and grid-connected system solutions to customers in Finland. The company was founded in 1981 and is headquartered in Helsinki, Finland.

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Enermet OY engages in wholesale and retailing of recycled materials. The firm also offers transportation services and heavy equipment installation services. The company is headquartered in Sastamala, Finland.

Echelon Corp. IT Consulting & Services | San Jose, CA

Echelon Corp. engages in the development and distribution of open-standard control networking platforms for industrial internet of things applications. It offers chips, control point devices, network interfaces, software, modules, routers, controllers and gateways, motion sensors, and starter and evaluation kits. The company was founded by Armas Clifford Markkula, Jr. in February 1988 and is headquartered in Santa Clara, CA.

Semcon AB Commercial Scientific Research | Gothenburg, Sweden

Semcon AB engages in the provision of product development services and product information. It operates through the Engineering Services and Product Information segments. The Engineering Services segment offers services that focus on the energy, automotive, telecom, and life science sectors. The Product Information segment involves in complete information solutions particularly the aftermarket business. The company was founded in 1980 and is headquartered in Goteborg, Sweden.

Rejlers AB Other Business & Consulting Services | Stockholm, Sweden

Rejlers AB engages in the provision of engineering consultancy services. It offers technical consulting services, which creates value for customers in the areas of Energy, Buildings, Industry, Telecom and Infrastructure. The firm projects include Rottle power station gets new control system, Norway's greenest grocery store, Brutorget in Bollnas, KK Ostra-New Women's Hospital, New Hovas, district in transformation, Custom tele tele, Ventilation unit-LKAB Malmberget, Mining on the rise in Kiruna, Alvsborgsbron in new light, Installation of crushing machines in India, and Malarenergi- the renewal project Block 6. The company was founded by Gunnar Rejler in 1942 and is headquartered in Stockholm, Sweden.

EDF Group Power & Utilities - Paris, France

Électricité de France SA engages in the energy industry production. It operates in the following business segments: Electricity and, Gas. It offers the following services: production, transport, distribution, trading, sale of energy and, energy services. The company was founded on June 17, 1955 and is headquartered in Paris, France.

Gazprom PJSC Oil & Gas - Moscow, MC

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, as well as generation and marketing of heat and electric power. What is natural gas What is natural gas Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers. Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18 and 70 per cent respectively. Gazprom accounts for 15 and 78 per cent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad. Gazprom is a reliable supplier of gas to Russian and foreign consumers. The Company owns the world’s largest gas transmission network – the Unified Gas Supply System of Russia with the total length of over 161 thousand kilometers. Gazprom sells more than half of overall produced gas to Russian consumers and exports gas to more than 30 countries within and beyond the former Soviet Union. Gazprom is the only producer and exporter of liquefied natural gas in Russia. The Company’s share in the global LNG output stands at 5 per cent. The Company is among Russia’s five largest oil producers and it is the largest owner of power generating assets in the country. These assets account for 17 per cent of the total installed capacity of the national energy system. Gazprom pursues the strategic objective of establishing itself as a leader among global energy companies by entering new markets, diversifying its activities and ensuring reliable supplies

En+ Group International PJSC Coal - London, United Kingdom

En+ Group International PJSC is a vertically integrated aluminum and hydro power producer. The company combines power plants with a total installed capacity of 19.7 GW including 15.1 GW of hydro power assets, and 3.9 mtpa of annual aluminum production capacity. It operates through following business segments: Energy and Metal. The Energy segment engages in all of the power industry’s key areas, including electric power generation, its transmission and distribution, power trading and supply. The Metals segment operations include the extraction and refinement of bauxite into alumina and the production and sale of primary aluminum, alumina and related products. The company was founded in 2002 and is headquartered in Limassol, Cyprus.

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