Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Finland
  4. Nasdaq Helsinki
  5. Fortum Oyj
  6. News
  7. Summary
    FORTUM   FI0009007132


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Fortum Oyj : Hepokorpi offers potential for utilising waste heat from a data centre

09/22/2021 | 08:47am EDT
The data centre would be located in Högnäs’s Hepokorpi, in an area of fields and forest between Kehä III and Bodominjärvi lake. Illustration: Ramboll

A data centre is currently being planned for Espoo, to be located in Högnäs’s Hepokorpi in an area of fields and forest between Kehä III beltway and Bodominjärvi lake. The centre promotes Espoo’s goal of becoming carbon neutral by 2030.

Fortum has applied for a zoning amendment for Hepokorvenkallio, so that a data centre can be built in the area and its CO₂-free waste heat can be used in heat production. Fortum would not construct the centre itself, and instead the company is looking for a data centre operator to carry out the building work. Hepokorvenkallio’s local detailed plan will be reviewed by Espoo’s City Planning Committee on 30 September, and the Committee will submit its proposal to the City Board.

Hepokorpi is a suitable location for a data centre, because it has been zoned for industrial purposes and has good transport connections without being close to the city centre. The area in question forms a sufficiently large continuous whole to facilitate a planning permit being granted for a large data centre.

The location is also close to the district heating network and a hook up point to the power grid. This will help avoid the construction of new large-scale power lines and district heating connections, as well as the disturbance that these would cause to the residents in a densely built urban environment.

Fingrid will build a new main grid substation, which will also require some space. In addition to the data centre, the substation will serve the entirety of Espoo and ensure that the growing city has a sufficient power supply.

Espoo aims to become carbon neutral by 2030, and based on a climate impact assessment, the data centre will be a key element in achieving this goal. Fortum has committed to providing Espoo with carbon-neutral district heating by 2029.

The waste heat from the data centre will be transferred to the district heating network to replace heat generated with coal. Recycling the waste heat of one large data centre could reduce the amount of CO2 emissions by approximately 400,000 tonnes a year.

Oittaa’s recreational areas to be protected

Hepokorpi is located to the east of Oittaa’s recreational area. The local detailed plan being processed will not affect the area’s ski tracks and will, in fact, improve the local network of recreational areas, because a new recreational route has been planned to connect the recreational areas to the north and south of Kehä III as part of the local detailed plan.

The new construction will be adapted to the surrounding cultural landscape. A sufficient number of trees will be left around the outdoor routes and residential buildings, and the data centre’s rooftop height will be lower than the treetops.

The data centre will reduce noise from Kehä III in Oittaa, because the buildings will protect the area from traffic noise. Any noise caused by the data centre will not spread into the centre’s surroundings.

The data centre will also create jobs. According to estimates, the number of new permanent jobs will be roughly 200–300, in addition to which 2,000 jobs will be available during the construction.

Data centres are needed to achieve digitalisation

The amount of data, the level of digitalisation and the use of cloud services are on the rise globally. Therefore, more service centres are required, and operators are looking for suitable locations for them. This means that Hepokorpi’s data centre project is not the only one of its kind.

Finland has introduced amendments to its electricity tax, with the aim of attracting investments to Finland instead of the other Nordic countries. The underlying idea is that it makes sense to bring some of the data centre investments to Finland and, in particular, to areas where waste heat can be utilised.

Espoo’s City Planning Committee will discuss the approval of Hepokorvenkallio’s local detailed plan at its meeting on 30 September. The final decision regarding the plan will be made by the Council.

© STT Info Finland, source STT Info English Press Releases

All news about FORTUM OYJ
10/21FORTUM OYJ : Uniper Lifts 2021 Guidance Amid Strong Earnings Boosted By Increase In Market..
10/21FORTUM OYJ : Strong increase in market prices cause Fortum subsidiary Uniper to raise prof..
10/21FORTUM OYJ : Strong increase in market prices cause Fortum subsidiary Uniper to raise prof..
10/14Indian businesses seek government support to meet 2030 EV target
10/11NOVARTIS : Unit Closes Purchase of GlaxoSmithKline's Cephalosporin Antibiotics Business
10/11PRESS RELEASE : Novartis: Sandoz completes acquisition of GSK's cephalosporin business, re..
10/07German utility Uniper could cut 1,200 jobs in service overhaul
10/07UNIPER : Germany's Uniper to Lay Off Over 1,000 Employees
10/04FORTUM OYJ : Annual outage 2021 at Fortum's Loviisa nuclear power plant completed .
09/30FORTUM OYJ : to launch the savings period for 2022 under its employee share savings progra..
More news
Analyst Recommendations on FORTUM OYJ
More recommendations
Sales 2021 60 283 M 70 211 M 70 211 M
Net income 2021 3 577 M 4 166 M 4 166 M
Net Debt 2021 5 358 M 6 240 M 6 240 M
P/E ratio 2021 6,82x
Yield 2021 4,11%
Capitalization 24 508 M 28 508 M 28 545 M
EV / Sales 2021 0,50x
EV / Sales 2022 0,48x
Nbr of Employees 20 184
Free-Float 47,3%
Duration : Period :
Fortum Oyj Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FORTUM OYJ
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 17
Last Close Price 27,59 €
Average target price 25,18 €
Spread / Average Target -8,73%
EPS Revisions
Managers and Directors
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Bernhard Günther Chief Financial Officer
Veli-Matti Reinikkala Chairman
Anja McAlister Deputy Chairman
Essimari Kairisto Independent Director
Sector and Competitors
1st jan.Capi. (M$)
FORTUM OYJ37.72%28 062
NEXTERA ENERGY8.63%164 415
ENEL S.P.A.-13.33%84 875
IBERDROLA, S.A.-16.65%70 123