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Fortum Power & Heat signed a framework agreement with Elcoline's TGS-Sahala business line for steam turbine maintenance at the Loviisa nuclear power plant in Finland for 2026–2030, with an option for two more years.
Elcoline Group Oy completed the acquisition of Fortum's Turbine and Generator Services (TGS) business on December 31, 2024. TGS, with over 170 employees in Finland, Sweden and Germany, had a turnover of EUR 32 million in 2023.
Fortum has signed an agreement to sell its turbine and generator services business to Elcoline Group Oy. The transaction is expected to close in Q4 2024.