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Fortum, Nordkraft form joint venture to develop wind projects in Norway

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Fortum, Nordkraft form joint venture to develop wind projects in Norway

Finnish state-controlled power generator Fortum Oyj agreed to form a joint venture with Nordkraft AS to develop wind projects in Norway.

The joint venture will be known as Fortum Nordkraft Vind DA, the companies said in a May 27 news release. Financial and others details of the transaction were not disclosed.

The two companies have been collaborating in wind power since 2017, when Fortum entered the Norwegian wind market with the acquisition of three wind projects from Nordkraft. Fortum now owns the Nygårdsfjellet wind farm in Narvik and the Ånstadblåheia wind farm in Sortland. The Sørfjord wind farm in Tysfjord is currently under construction. The three projects will have a combined installed capacity of 170 MW.