Fortum and City of Loviisa Reach Agreement for Land Sale Near Power Plant

Fortum and City of Loviisa Reach Agreement for Land Sale Near Power Plant

(IN BRIEF) Fortum and the City of Loviisa have reached an agreement for the sale of approximately 300 hectares of land near the Loviisa power plant. Valued at 10.6 million euros, the land sale is subject to approval by the Loviisa City Council. Fortum plans to use the land for low-carbon electricity production or other industrial applications in line with its clean energy goals. The company has been a reliable nuclear power producer in Loviisa for over 45 years and will cooperate with the city and local stakeholders on future zoning and development. The zoning process is expected to take 5-7 years.

(PRESS RELEASE) ESPOO, 3-Mar-2025 — /EuropaWire/ — Fortum and the City of Loviisa have moved forward in their discussions regarding the potential sale of approximately 300 hectares of city-owned land. Located near the Loviisa power plant, the land spans the Atomitie road leading directly to the facility. The proposed transaction, valued at 10.6 million euros, reflects expert evaluations of the property’s worth. The Loviisa City Council is expected to make a final decision on the sale in March.

Negotiations between the two parties have been ongoing for nearly a year. Fortum has expressed a keen interest in the land, which is believed to offer potential for low-carbon electricity generation or other industrial applications that could support the clean energy transition in the long term. This aligns with Fortum’s strategy, which focuses on delivering sustainable energy solutions while driving industrial decarbonization.

Mika Rainemaa, Fortum’s Real Estate Director, shared insights on the land’s advantages: “The area benefits not only from excellent terrain but also from well-maintained infrastructure, including direct access to national grid connections and a substation, all thanks to the proximity of the Loviisa nuclear power plant. Furthermore, the site’s location near the sea adds to its strategic appeal.”

Should the sale be approved, Fortum’s plans for the land will require updates to the regional land use plan, as well as revisions to the local master and detailed plans. These zoning updates will take at least 5 to 7 years to complete, with Fortum covering the associated costs. Currently, Fortum has no specific plans for how the land will be utilized.

Having been a reliable nuclear power provider in Loviisa for over 45 years, Fortum is committed to remaining a long-term part of the local community. If the land sale proceeds, Fortum intends to collaborate closely with the City of Loviisa and local stakeholders throughout the land use and zoning process. The company is also committed to keeping local stakeholders informed about the area’s development.

Media Contact:

Fortum News Desk
+358 40 198 2843
newsdesk@fortum.com

SOURCE: Fortum Corporation