BUSINESS
From 1 January, 1999, IVO Power Engineering has been renamed Fortum Engineering, following the merger of IVO Group and Neste Group in June 1998.
Fortum Corporation’s subsidiaries IVO and Neste will sell their peak gas turbine plants to Finnish Power Grid’s (Fingrid) subsidiary Fingrid Varavoima Oy. The total plant capacity involved is 330 MWe. The deal includes IVO’s four peak gas turbine plants located in Huutokoski, Loviisa, Naantali and Vanaja, and Neste’s peak gas turbine plant in Sköldvik.