Fortum industrial partnerships: pioneering carbon-free energy solutions with energy-intensive industries
At Fortum, our purpose is to power a world where people, businesses, and nature thrive together. As a leading clean energy producer in Europe, we empower energy-intensive industries to decarbonise and electrify their processes in a profitable way.
Joint projects with energy-intensive industries
With the effects of climate change and enhanced climate goals industries are looking for ways to reduce their carbon emissions by turning away from fossil fuels. One important part is to switch to fossil-free energy consumption.
As a provider of scalable clean energy, we seek long-term partnerships to balance risks and ensure predictability in a volatile market. At Fortum, we leverage our CO2-free, efficient, and flexible energy production to help societies and customers achieve their climate goals. Collaboration and sharing expertise are essential in our changing world. Fortum’s vision for joint projects is anchored in three critical areas, each designed to meet the needs of hard-to-abate industries.
Anchored critical areas
Renewable energy developments
Small modular reactors (SMR) advanced nuclear technology
Hydrogen initiatives
Renewable energy developments
Recognising the vital role of renewable energy in the energy transition, we are actively expanding our wind and solar portfolios. Wind and solar are particularly attractive due to their lower investment costs and their ability to quickly scale clean energy production.
With excellent wind conditions in our home markets, and with increased efficiency through larger rotors and economies of scale, wind power is a key part of our move to zero-emissions electricity production.
Our most recent achievement is the 380 MW Pjelax wind farm in Ostrobothnia, which was completed in collaboration with the energy company Helen Ltd. Pjelax is the third-largest wind farm in Finland.
On the other hand every day, the sun gives off far more energy than we need to power everything on Earth. Fortum has excellent experience producing solar power in India. Also, in the Nordics, the conditions for solar power are promising.
Our initiatives are designed to provide reliable and carbon-free energy to large-scale industrial operations, ensuring both energy security and environmental responsibility.
Small modular reactors (SMR) advanced nuclear technology
Nuclear power can benefit society by mitigating climate change, increasing the security of supply and stabilising the electricity system. SMRs offer key advantages, such as compact size and faster deployment compared to traditional nuclear facilities, making them well-suited for efficient decarbonisation.
Fortum has over 40 years of experience in nuclear power, and we believe that nuclear power is also part of the solution in our transition towards a future emission-free energy system. In October 2022, we launched a two-year feasibility study to assess the conditions for new nuclear projects in Finland and Sweden. Our analysis shows that both large and small reactors have roles in the energy landscape. To truly revive nuclear power, it will be necessary to foster collaboration and share risks among stakeholders, ensuring both economic and environmental success.
Hydrogen initiatives
There are many industrial sectors, like the steel industry and heavy transportation, where there are only a few alternative routes for reducing emissions when direct electrification is not possible. Out of these options, hydrogen is clearly the most feasible and mature solution. Hydrogen can be used in industrial processes either directly or through e-derivatives, where hydrogen is combined for example with a CO2 molecule making it into e-methanol or e-methane.
P2X is identified as an exploration area in Fortum’s strategy and it can act as the basis for future electricity demand growth changing electricity market dynamics. Strong development work for European-wide hydrogen infrastructure also offers promising possibilities to serve wider energy and chemical markets in the future and utilize Nordic electricity market potential with a more versatile end-product.
Our steps towards clean energy
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Fortum launches pilot hydrogen production facility in Loviisa
Fortum is building a hydrogen production pilot in Loviisa, Finland, set to operate by late 2025, producing hydrogen through electrolysis to explore its potential in industrial applications.
Fully funded by Fortum's R&D, the project aims to advance cleaner energy transitions in industries like steel and fertilizer production across the Nordics. This initiative marks a strategic move towards utilising green hydrogen in energy-intensive sectors.
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