Oulun Energia and the City of Kemi aim to enable the green transition in the Bothnian Arc
Oulun Energia and the City of Kemi have been in discussions over the Bothnian Arc region and its development in a changing operating environment. The parties have collaboratively planned ways to better facilitate the advancement of green industrial projects in the region. The discussions have examined the role and development of Kemin Energia ja Vesi Oy (Kenve) from the perspectives of project implementation and ownership development.
The arrangement reflects a shared commitment to strengthening capabilities for implementing green transition projects. A lot of industry already exists in the Bothnian Arc, which is why it is crucial to enable the green transition of existing industrial operations and attract new industrial operations and investments using green electricity to the region. This would strengthen and benefit the entire region of Northern Finland.
“We need a strong operator in the Bothnian Arc to ensure the successful execution of green transition projects and the long-term growth and development of our company. Oulun Energia has already responded to the rapid changes to the operating environment of the energy and circular economy sector, and our shared values in advancing the green transition align well. For this reason, we consider closer cooperation with Oulun Energia to be worth striving for,” says Kemi’s mayor, Matti Ruotsalainen.
Aligned with its new strategy, Oulun Energia Oy aims to pursue robust growth through the green transition. Potential opportunities for growth may be related to, for example, the circular economy, increasing electric power network demand, hydrogen, or the development of district heat production. The new strategy positions Oulun Energia for success in the evolving energy and circular economy operating environment.
“We will actively lead the change in the changed operating environment. Sources of high growth are the growth of our current business operations and our expansion to industries where we can achieve synergies and a clear competitive advantage. Kemi is clearly a location with great potential for us. We also have the ability to enable Kenve’s long-term development in addressing the challenges of the changed operating environment,” states Arto Sutinen, CEO of Oulun Energia.
The arrangement would take the form of a share transaction, in which Oulun Energia would acquire a 60 per cent stake in Kenve. The issue will be presented by Mayor Matti Ruotsalainen to the City of Kemi city council executive committee on Monday, 25/11/2024. The matter will be decided by the Kemi city council on 9/12/2024. Upon completion of the share transaction, Kenve would become a subsidiary of Oulun Energia.
