Fortum to purchase wind power from Taaleri to cater to Nordic markets

Fortum has signed an agreement to purchase the wind power produced by the Finnish financial services group Taaleri to sell it to the Nordic electricity markets.

The multi-year agreement enables Fortum to purchase Taaleri’s total annual wind power production in Finland.

Taaleri has a total output of 312MW, while its annual production is about 1TWh, which is about 1.5% of the country’s annual power production in 2017.

Taaleri Energia production manager Olli Hagqvist said: “We have purposefully built our renewable energy strategy.

“Through our collaboration, we are able to combine Taaleri’s significant expertise in renewable energy with Fortum’s extensive knowledge of the Nordic electricity markets.”

Fortum will sell the acquired wind power from Taaleri’s 13 windfarms to Nordic electricity markets through the Nord Pool electricity exchange. This new agreement will be effective from 1 April.

Fortum secured the tender through a competitive bidding process conducted by Taaleri.

Fortum originator and B2B Sales official Saara Rantanen said: “Taaleri’s wind portfolio is one of the largest in Finland, as is this newly signed wind power purchase and balance agreement.

“It is wonderful that we can help Taaleri to get the emissions-free wind power they generate to the Nordic electricity markets.

“At the same time, this supports the advancement of our own expertise in wind power.”

Fortum is a clean-energy company offering electricity, heating and cooling, as well as smart solutions. It employs around 9,000 professionals in the Nordic and Baltic countries, Russia, Poland, and India.

The company posted sales of around €4.5bn in 2017.

Taaleri’s parent company Taaleri Plc is listed on Nasdaq Helsinki’s main market. The group consists of three business segments – wealth management, financing, and energy.