(Espoo / Düsseldorf) – The two energy suppliers Fortum Oyj and Uniper SE have completed the first planning phase in the three strategic cooperation areas announced in December: hydropower and physical trade in Northern Europe, development of wind and solar energy and hydrogen. In accordance with what the companies call a “one team” approach, one company will take the lead in each of these business areas. The aim is to “achieve greater added value and make better use of growth opportunities in the areas of wind, solar and hydrogen”.
Hydropower segment at Fortum
According to the plans, Fortum will be responsible for the management and operation of Uniper's hydropower plants in Sweden as well as optimizing business in the Nordic countries. This affects around 180 Swedish hydropower employees at Uniper. No staff cuts are planned and all existing Fortum and Uniper locations in the joint Nordic portfolio will remain in operation. Uniper SE would continue to own its assets. The combined activities would be led by Simon-Erik Ollus, head of the generation division at Fortum. These business areas currently employ around 400 people, mainly in Sweden and Finland.
Hydrogen, solar and wind power goes to Uniper
Uniper is taking the lead in developing the wind and solar and hydrogen businesses. The companies are planning a joint organization for their onshore wind and solar activities in Europe. The goal is to build between 2025 and 1,5 gigawatts of new capacity by 2. Uniper bundles the development of solar and wind energy, plant and operational management as well as expansion planning and marketing. The combined wind and solar activities of Fortum and Uniper would be led by Uniper's managing director Klaus-Dieter Maubach.
The new operating model for hydrogen is intended to “facilitate the development of a common project and transaction pipeline”. The combined hydrogen business will be led by Uniper Chief Operating Officer David Bryson.
In December 2020, Fortum and Uniper announced that the joint cooperation benefits in 2025 would be around 100 million euros annually. Of this, more than 50 million euros would be achieved by the end of 2023. The implementation of the strategic cooperation in the three areas is subject to final approval by the companies' internal committees and is planned for the beginning of 2022.
Uniper emerged from the Eon Group by spinning off conventional power generation from fossil sources and global energy trading. Since March 2020, Uniper has been majority owned by the Finnish power plant operator Fortum Oyj, in which the Finnish state in turn holds the majority.
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Fortum and its subsidiary Uniper are reorganizing their business areas / © Fortum
