Finnish energy firm Fortum has today sold its 18.7 per cent stake in Swedish electricity supplier Dala Kraft to energy company Jamtkraft.
Jamcraft is a Swedish electricity supplier servicing around 60 000 customers in the Jamtland region.
Dala Kraft was established in 1996 by energy companies in Dalarna, in central Sweden. It has about 60 employees and its sales in 2011 were €217m ($282m).
Fortum has also opened an office in New Delhi, India, to focus in particular on “investment opportunities in the area of combined heat and power in order to provide power and steam for industrial clusters”.
Fortum is also exploring entering solar power production in India.
President Tapio Kuula said: “Our aim is to look into investment opportunities contributing to the development of India’s energy infrastructure.”
He added that India was “one of the globally most interesting countries” in the solar power market, “both with regards to its natural location but also due to its ambitious plans for solar power. As we now have a base here in India, it is quite natural for us to explore possible growth in solar power as well.”