Wednesday, May 2, 2012

Finnish Fortum establishes operations in France to develop renewable energy projects

Fortum has opened an office in Paris in order to boost its presence in France where the company may work on renewable energy projects, French business daily La Tribune reported this week.

Currently, the Finnish company operates in the segments of hydropower, co-generation and nuclear energy. Regarding France, the group is interested in the possibilities for winning hydropower concessions, to be offered soon by the French government. Another interesting opportunity on the French market is the marine tidal energy sector. Fortum has already embarked on a partnership with French shipyard DCNS to operate in that sector. The Nordic group is also looking for business opportunities in the solar power sector.

Fortum is a leader in the production of energy and heating in the Nordic region. Throughout the years, the Finnish group managed to boost its performance via the deregulation of different markets. Thus, the company was able to establish presence throughout Scandinavia, and later on turned its attention to the Baltic republics and Russia.

Fortum employs 10,700 people and closed 2011 with a revenue of 6.2 billion EUR.

Sources: La Tribune, Fortum Press Release

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