In the three strategic cooperation areas of Nordic hydro and physical trading optimization, wind and solar production, and hydrogen, Fortum and Uniper have jointly completed the first planning process.
According to the proposed plans, Fortum will oversee the potential operations of both companies’ Nordic hydro properties. Uniper, on the other hand, will be in charge of both companies’ wind and solar as well as hydrogen businesses.
Fortum and Uniper announced three areas of mutual collaboration in December 2020 to ensure concentrated and successful execution of the Group strategy. The ultimate goal is to increase Fortum and Uniper’s value in Nordic hydro and physical trading optimization, as well as to better leverage growth opportunities in wind, solar, and hydrogen. Each of the businesses will take the lead in each of these business fields, based on the “One Team” strategy.
Uniper is a leader in the production of hydrogen capabilities in the industry. Uniper’s presence around the hydrogen value chain, combined with Fortum’s strong role in the Nordic countries, positions both companies to be leaders in the future hydrogen industry. According to the strategy, Uniper will lead a joint approach for the hydrogen market that includes both companies’ complementary technological and commercial capabilities. The new hydrogen operating model would make it easier to build a joint project and deal pipeline.
Fortum and Uniper’s joint hydrogen company will be headed by Uniper’s COO David Bryson, building on their first mover advantage.