Energy, Energy Market, Estonia, Good for Business

To date, 40% of the shares of Fortum Tartu belonged to the company Giga managed by Janek and Franek Veeber, and 60% to Fortum Heat Estonia. 

Fortum had previously announced in February of this year that is was considering a sell-off of all its heating businesses in the Baltics.

Fortum provides district heating service in the Estonian cities of Tartu and Parnu. The remote heating network of Parnu is 100% owned by Fortum.

AS Fortum Tartu is a holding company for three subsidiaries: thermal energy and electricity producer AS Anne Soojus, network company AS Tartu Keskkatlamaja, and peat producer and seller of fuel of local origin AS Tartu Joujaam.

Annual revenue of the Fortum group amounted to 5.4 bn euros and operating profit to 1.1 bn euros in 2019. Approximately 530 people work for Fortum in the Baltic countries and Poland.