Nokian Lämpövoima Sells a Power Plant in Nokia

Nokian Lämpövoima Oy (NLV) and Fortum Power and Heat Oy (Fortum) have reached an agreement on the sale of NLV’s Nokia power plant and the associated business operations. The deal, however, is not final before the decision-making bodies of both parties and the Finnish competition authorities have approved it. The parties have agreed that the purchase price will not be disclosed.

At the same time, it was also agreed that Pohjolan Voima Oy will buy all NLV shares owned by Fortum. Currently, Fortum owns 19.9% of NLV shares.

The power plant being sold produces both electricity and thermal energy. Its heat generation capacity is about 85 MW and its electricity generation capacity is about 70 MW. It is fired by natural gas.

Before the deal, Fortum was selling district heat and industrial process heat in Nokia. When the deal is completed, Fortum will also be responsible for heat generation in the area. The personnel of Proma-Palvelut Oy employed at the plant will not be affected by the deal, as the plant operation service agreement is being transferred to the new owner along with other business operations.

NLV will continue operation as the owner of Mussalo’s gas-fired combined cycle power plant.

Additional information:
Heikki Tuominen, Managing Director, Nokian Lämpövoima Oy
Jari Niemelä, Director, Pohjolan Voima Oy