HomeDecentralized EnergyCogeneration CHPFortum keen on combined heat and power investment

Fortum keen on combined heat and power investment

Finland’s Fortum are planning to invest in combined heat and power and hydropower plants in Europe, after freeing up capital through the sale of its distribution networks.

“We want to buy companies with existing cash flows that are within our existing competences and relatively close to our home markets in Europe,” CEO Pekka Lundmark said in an interview.
He added Fortum, whose main markets are electricity generation and district heating, was not targeting wind and solar assets for now as their “expected cash flows are very far down the road.”

Although Fortum has not named any specific acquisition target, analysts have suggested Finland’s Pohjolan Voima, which has 12 hydropower stations, and the Swedish hydropower assets of Germany’s Uniper’s as candidates.à‚