Latest news with #Fortum
Fibre2Fashion
20-05-2025
- Automotive
- Fibre2Fashion
Finland's Fortum & Vianode partner on recycled graphite for EVs
Fortum Battery Recycling and Vianode have signed a Memorandum of Understanding under which the two companies will work together to: Fortum Battery Recycling and Vianode have signed an MoU to develop recycled graphite for EV batteries. Fortum will supply graphite from its hydrometallurgical plant, while both firms will optimise its use in anode production. The partnership aims to cut carbon emissions, reduce reliance on virgin materials, and support EU goals for sustainable battery value chains. Secure supplies of high-quality recycled graphite concentrate from Fortum's hydrometallurgical plant in Harjavalta, Finland Develop and optimize recycled graphite materials for use in Vianode's commercial-scale anode production Evaluate and enhance the performance of recycled graphite in advanced battery components 'Fortum Battery Recycling and Vianode have a shared commitment to a more sustainable and less resource-intensive EV battery industry. By recovering valuable and critical graphite from used batteries and returning it to the cycle as battery-grade material, we help enable the production of new lithium-ion batteries with a significantly lower environmental footprint,' says Tero Holländer at Fortum Battery Recycling. "Recycling graphite from end-of-life batteries is vital to reduce dependence on virgin raw materials, lower carbon emissions, and build sustainable supply chains. Access to recycled graphite concentrate with potential to scale volumes over time will support Vianode's ambition to deliver high-quality anode materials with an industry-leading CO2 footprint below 1 kilogram CO2e per kilogram of graphite by 2030', says Dr. Stefan Bergold, Chief Commercial Officer of Vianode. Graphite anode material represents the largest component of lithium-ion batteries by weight, typically around 70 kilograms per EV. The majority of graphite used in EV batteries is synthetic graphite, of which around 90% is currently imported from China. Towards 2030, Europe is expected to see a significant increase in battery recycling as the first generation of EVs reaches the end of their life and new EU legislation requires higher recovery rates and the use of recycled materials in new batteries. Fortum Battery Recycling operates Europe's largest closed-loop hydrometallurgical battery recycling facility in Harjavalta, Finland. In March 2025, Fortum's Harjavalta facility was recognized by the European Commission as a Strategic Project as part of the implementation of the Critical Raw Materials Act (CRMA), aiming to ensure European production of raw materials needed for green transition. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Mint
16-05-2025
- Business
- Mint
ReNew to invest ₹22,000 cr for 2.8 GW hybrid RE project in Andhra Pradesh
NEW DELHI : Nasdaq-listed ReNew Energy Global Plc on Friday announced an investment of ₹22,000 crore to set up a hybrid renewable energy project in Andhra Pradesh. The 2.8 GW project including 1.8 gigawatt of solar, 1 GW wind, and a battery energy storage system (BESS) of 2 gigawatt hour (GWh) will be set up in Andhra Pradesh's Anantapur district. Nara Lokesh, the minister for information technology, electronics & communications, real-time governance and human resources development of Andhra Pradesh, laid the foundation stone for the project during the day in the presence of Sumant Sinha, founder, chairman, and CEO of ReNew. Also Read: How energy storage can make renewables work for Indian commercial enterprises In the project's first phase, ReNew will set up 587 Megawatt-peak (MWp) solar and 250 Megawatt (MW) wind energy capacity, along with a 415 Megawatt hour (MWh) BESS, for which power purchase agreements (PPAs) have already been signed. The rest of the capacity will be developed in subsequent phases. "With a large BESS to be installed, the project will be able to supply power for up to 4 peak hours every day (non-RE generating hours), which will help the off-takers with peak demand management and enable renewable energy to be more firm and dispatchable," the statement said, adding that the project will be made up of solar panels manufactured in ReNew's manufacturing units in Jaipur, Rajasthan, and Dholera, Gujarat. Aiding India's 2030 clean energy goal 'This project is directly aligned with Andhra Pradesh's Integrated Clean Energy Policy and contributes to India's 500 GW non-fossil fuel goal by 2030," the minister said. Also Read: Fortum to sell majority stakes in renewable, EV charging businesses in India Sinha said that Andhra Pradesh presents an attractive mix of investor-friendly policies, excellent transmission connectivity, and abundant availability of solar and wind resources. "We are highly optimistic about developing large-scale renewable energy capacity in the state to contribute to the hon'ble prime minister's commitment of achieving the target of 500 GW non-fossil fuel electricity generation capacity by the year 2030," Sinha added. ReNew has a portfolio of 717 MW of operational wind capacity and 60 MW of solar capacity spread over 10 sites in Andhra Pradesh. As of 14 February, its gross clean energy portfolio stood at 17.4 GW. Also Read: 25GW of renewable energy capacity installed in FY25: Pralhad Joshi Earlier this month, it received an investment of $100 million from British International Investment (BII) for its solar module and cell manufacturing subsidiary ReNew Photovoltaics Ltd, valuing the unit at $1 billion.
Reuters
05-05-2025
- Business
- Reuters
Russia's Rosatom sues Finnish firms $2.8 bln over nuclear plant contract
MOSCOW, May 5 (Reuters) - Russia's Rosatom has filed a lawsuit in Moscow against Finland's Fortum and Outokumpu, demanding 227.8 billion roubles ($2.8 billion) in compensation for losses over the termination of a contract for the Hanhikivi-1 nuclear power plant in Finland, court documents and Rosatom's statement show. Rosatom is seeking compensation for losses caused "by the unlawful termination of the EPC contract" for the construction of the nuclear power plant, "violations of the shareholder agreement, the fuel supply contract, and the refusal to repay the loan", company said on Monday. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The contract to build 1.2 gigawatt plant with investments estimated at 6.5-7 billion euros was signed in 2013, but the Finnish side terminated it in May 2022, before construction started. The decision was based on significant delays, geopolitical risks due to Russia's invasion of Ukraine, and doubts about the possibility of starting the project. Fennovoima, a consortium in which Finnish stakeholders including Outokumpu, Fortum and SSAB own two thirds, had launched international arbitration, aiming to return of 1.7 billion euros of advance payments. Rosatom filed counterclaims for 3 billion euros in total. The cases are under arbitration in international courts. Fortum was a major foreign investor in Russia's energy sector, however in 2023 it lost control of its Russian assets, when Russia temporarily took over seven thermal power units and a joint-venture portfolio of wind and solar plants from Fortum under a decree by President Vladimir Putin.
Saba Yemen
04-05-2025
- Climate
- Saba Yemen
Finland: Hydrogen leak at Loviisa Nuclear Power Station
Helsinki - Saba: The Finnish nuclear power operator Fortum announced that the second power unit at the Loviisa Nuclear Power Plant is operating at reduced capacity due to a hydrogen leak. In a statement issued on Sunday, the company said: "The second unit at the Loviisa Nuclear Power Plant will operate at half capacity on Sunday until the thermo-electric generator is repaired. Hydrogen consumption in the generator began to rise on May 3, indicating a hydrogen leak." The company noted that the location of the leak had been identified and isolated in one of the four thermo-electric generators. According to Fortum, repairs are expected to take two days. It added that the first power unit at the nuclear plant is operating normally. The Loviisa Nuclear Power Plant is located in southern Finland, and its two units produce more than 10% of the country's consumed electricity. Whatsapp Telegram Email Print
Yahoo
02-05-2025
- Business
- Yahoo
Hexa Climate Solutions acquires Fortum's Indian renewables portfolio
Indian renewable energy company Hexa Climate Solutions has announced the acquisition of Finnish electric services company Fortum's Indian renewables portfolio with plans to invest $500m to expand its clean energy projects, as reported by Reuters. The acquisition includes a 100% stake in Fortum India, including a 206MW commercial and industrial (C&I) renewables portfolio, a 600MW ready-to-build renewable projects pipeline and a 40-member team. Sanjeev Aggarwal, founder and executive chairman of Hexa, stated to Reuters that the company will make a total investment of $500m in India and other developing countries. The investment will be supported by I Squared Capital, which holds a majority share in Hexa. Hexa is set to invest $100m to complete Fortum's solar and wind projects in India. An additional $400m will be allocated to grow its clean energy portfolio from the current 100MW to 2.5GW up to 2027. The company anticipates that 65% of the portfolio will consist of solar assets, with the remainder in wind assets. This strategic move aligns with India's goal to almost triple its non-fossil power capacity to at least 500GW by 2030. The sale signifies Fortum's exit from the Indian market, following the divestment of 185MW of solar assets in 2024, as the company shifts focus to its operations in Finland. In March 2025, Fortum completed a two-year feasibility study on new nuclear power in Finland and Sweden, determining that it is not commercially viable on a merchant basis only under existing Nordic power market conditions. Hexa Climate offers renewable energy and net-zero solutions across key markets in India, Taiwan, Philippines, Japan, South Korea and Malaysia. "Hexa Climate Solutions acquires Fortum's Indian renewables portfolio" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
