Fortum Acquires 300 Hectares of Land from City of Loviisa for Clean Energy Development

Strategic Insights -

Finland-based energy company Fortum has signed a property sales agreement with the City of Loviisa to purchase 300 hectares of land in the Kalla-Hastholmen area. The acquisition is a strategic move to support Fortum's focus on delivering clean energy reliably and driving decarbonization in industries. The company plans to use the land for low-carbon electricity production or other industrial uses promoting the clean transition in the long term. The land sale is valued at 10.6 million euros, with Fortum bearing the costs of the zoning process, which will take at least 5-7 years to complete.

Key Takeaways:

  • Fortum has signed a property sales agreement with the City of Loviisa to purchase 300 hectares of land in the Kalla-Hastholmen area for approximately 10.6 million euros.
  • The land acquisition is part of Fortum's strategy to deliver clean energy reliably and drive decarbonization in industries.
  • The area is suitable for low-carbon electricity production or other industrial uses promoting the clean transition in the long term.
  • The land has well-maintained roads, a connection to the national grid, and a substation thanks to the Loviisa nuclear power plant.
  • Fortum will bear the costs of the zoning process, which will take at least 5-7 years to complete.
  • Mika Rainemaa, Fortum's Real Estate Director, emphasizes the advantages of the land area, including its good terrain, road network, and proximity to the sea.
  • Fortum has been a reliable nuclear power producer in Loviisa for over 45 years and is committed to being part of the local community for the long term.

Statistics:

  • 300 hectares: The size of the land area to be acquired by Fortum (Source: Fortum)
  • 10.6 million euros: The proposed price for the land sale (Source: Fortum)
  • 5-7 years: The estimated time required to complete the zoning process (Source: Fortum)
  • 45 years: The length of time Fortum has been a reliable nuclear power producer in Loviisa (Source: Fortum)

Sources:

  • "Fortum and the City of Loviisa have signed on Monday 23.6.2025 a property sales agreement and a cooperation agreement."

([Source: Fortum News Release, March 27, 2025, "Update on the Loviisa land transaction"])

  • "Fortum will purchase 300 hectares of land in the Kalla-Hastholmen area from the City of Loviisa."

([Source: Fortum News Release, March 27, 2025, "Update on the Loviisa land transaction"])

  • "The final decision on the sale of the land will be made by the Loviisa City Council."

([Source: Fortum News Release, March 3, 2025, "Fortum and the City of Loviisa to sell land"])