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Fortum Oyj (FOJCF.PK)

FOJCF.PK on OTC Markets Group - US Other OTC and Grey Market

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Latest Key Developments (Source: Significant Developments)

Fortum and Futurice develop concept for solar energy cos in developing countries
Monday, 13 Mar 2017 03:00am EDT 

Fortum Oyj : Fortum and Futurice are developing a new concept for solar energy companies in developing countries .Says if development phase is successful, commercial pilot could be started in fall 2017.  Full Article

Vestas wins 50 MW order in Norway
Monday, 6 Mar 2017 05:32am EST 

Vestas Wind Systems A/S : Vestas wins 50 MW order in Norway for Fortum's Ånstadblåheia wind park [nFWN1GJ04V] . The contract includes supply and installation of the wind turbines, as well as a 5-year Active Output Management 5000 service agreement . Delivery of the wind turbines is expected to begin in the third quarter of 2018 Further company coverage: [VWS.CO] (Reporting by Stine Jacobsen, editing by Teis Jensen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Fortum to start building Ånstadblåheia wind farm in Norway
Monday, 6 Mar 2017 04:00am EST 

Fortum Oyj : Is launching construction of Ånstadblåheia wind farm in Norway . Construction will begin with ground works in March .Wind farm is expected to start production in 2018.  Full Article

Fortum puts in use biggest power battery in the Nordics
Wednesday, 1 Mar 2017 07:00am EST 

Fortum Oyj : Says biggest battery in the Nordic countries was taken into use on March 1 at Fortum's Jarvenpaa power plant . Says Batcave battery's nominal output is 2 megawatts (MW) and energy capacity 1 megawatt-hour (MWh) . Says the battery consists of approximately 6,600 lithium-ion cells, and it offers quick, second- and minute-level grid flexibility in frequency regulation . Says investment cost of Batcave development project is about EUR 1.6 million, for which Fortum will receive a 30 percent energy investment subsidy from the Ministry of Economic Affairs and Employment . Fortum says power supply and demand can be better balanced with intermediate storage of electricity, reducing the need for fossil fuel-fired peak load plants ."Our Batcave project takes us a big step closer towards the solar economy, where electricity storage plays an important role alongside renewable energy production forms," says Tatu Kulla, Head of Business Development, Fortum.  Full Article

Fortum appoints Markus Rauramo as new CFO
Wednesday, 8 Feb 2017 01:30am EST 

Fortum Oyj : Says Chief Financial Officer Timo Karttinen has asked to step down from Fortum’s Executive Management through internal job rotation . Says Markus Rauramo, Executive Vice President of Fortum City Solutions, has been appointed Chief Financial Officer of the company as of March 1, 2017 .Says as of March 1, 2017, City Solutions will be divided into two divisions: City Solutions and Consumer Solutions.  Full Article

Finland's Fortum misses Q4 profit expectations
Thursday, 2 Feb 2017 02:00am EST 

Fortum : Says Q4 comparable operating profit 188 million euros ($202 million), versus 247 million seen in Reuters poll and down 23 pct from a year ago . Says proposes a dividend of 1.10 euros per share, above 0.73 seen in Reuters poll . Says continues to expect annual electricity demand to grow in Nordic countries by approximately 0.5% on average .Generation segment's Nordic generation hedges: approximately 60 pct hedged at eur 30 per mwh for 2017 and approximately 35 pct hedged at eur 26 per mwh for 2018.  Full Article

Fortum proposes Lievonen, McAlister as new board members
Friday, 27 Jan 2017 08:05am EST 

Fortum Oyj :Proposes Matti Lievonen and Anja McAlister as new board members as Akhtarzand and Talvitie will step down.  Full Article

Finland's Fortum buys Turebergs Recycling
Wednesday, 21 Dec 2016 07:58am EST 

Fortum : Says today finalized an acquisition of Turebergs Recycling Ab from Turebergs Akeri Ab with an enterprise value of up to approximately EUR 11 million . says main business of Turebergs Recycling is environmental construction, recycling and processing of bottom ash from waste-to-energy plants; important part of the business is separation of metals for reuse Further company coverage: [FUM1V.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244)).  Full Article

Favourable decision granted to Fortum on Belgian financing company taxation remains in force
Wednesday, 30 Nov 2016 06:05am EST 

Fortum Oyj : The favourable decision granted to Fortum on Belgian financing company taxation remains in force .Supreme Administrative Court in Finland has decided not to grant permit to appeal to Tax Recipients' Legal Service Unit (VOVA).  Full Article

Fortum to supply low-NOx combustion technology for Krakow power plant
Wednesday, 30 Nov 2016 03:00am EST 

Fortum Oyj : To supply low-NOx combustion technology for Krakow power plant .Installations will be erected in years 2017 (one boiler) and 2018 (second boiler).  Full Article

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Finland's Fortum vows to keep a cool head in M&A pursuit

HELSINKI Finland's largest utility Fortum , on the look-out for deals for years, is striving to clinch a sizable acquisition this year, its chief executive said on Wednesday.