as it would like all the plants to be closed already by 2030. Fortum is planning to replace the coal capacity by new wind and solar power. Hydropower and nuclear power operations are also being developed and in Russia renewable energy is taken into use. Social responsibility In February 2014, Fortum equipped three schools with solar-powered infrastructure in Bhilwara, India, where they had a solar plant. Uniper divestment On 21st September 2022, Fortum announced that Uniper is to be fully divested to the German state. Under the agreement, Uniper plans to issue 4.7 billion new ordinary registered shares, which the German State plans to subscribe at a nominal value of EUR 1.70 per share. The German state-owned KfW bank will provide Uniper with additional liquidity support as required until this EUR 8 billion capital increase is completed. At completion of the capital increase, the German State plans to buy all of Fortum‘s approximately 293 million shares in Uniper for EUR 1.70 per share, i.e. for a total of EUR 0.5 billion. At that point, change of control clause in the financing agreement will be triggered and the German State will provide the financing for the redemption of Fortum’s EUR 4 billion shareholder loan granted to Uniper and the release of the EUR 4 billion parent company guarantee. The parties have also agreed that Fortum will have a right of first offer in case Uniper intends to divest all or parts of its Swedish hydro and nuclear assets until the end of 2026. See also Energy in Finland References External links Companies based in Espoo Companies listed on Nasdaq Helsinki Electric power companies of Finland Electric power companies of Norway Electric power companies of Sweden Electric power companies of Russia Electricity retailers in Sweden Nuclear power companies of Finland Nuclear power companies of Sweden Energy companies established in 1998 1998 establishments in Finland Government-owned energy companies Government-owned companies of Finland