Fortum to support feasibility study on low-carbon aluminium production in Finland
Energy company Fortum will support a study exploring low-carbon aluminium production opportunities in Kokkola and Kronoby, Finland. The project could lead to Europe's first new primary aluminium facility in over three decades.
Fortum will serve as the energy partner supporting a feasibility study into low-carbon aluminium production in Kokkola and Kronoby, Finland. The project aims to assess the viability of establishing the first new greenfield primary aluminium facility in continental Europe in more than 30 years.
The company's role will involve supporting long-term hedging strategies for electricity sourcing and management, potentially drawing from Fortum’s existing and future generation assets. If realized, the facility would require approximately 7 terawatt-hours of electricity annually.
The feasibility study is being conducted by the Arctial project company, with partners including Rio Tinto, Vargas, Mitsubishi Corporation, Fortum, and Finnish Industry Investment (Tesi). The assessment will cover social, technical, environmental, and commercial dimensions of the proposed aluminium manufacturing operation.
Project partners anticipate making a final investment decision regarding the production facility between 2026 and 2027, following a comprehensive evaluation process that includes the outcomes of this initial feasibility study.