Fortum has agreed to sell its district heating business in the Baltics to Partners Group, a leading global private markets firm, for a total consideration of €800m. The company provides district heating in five cities, namely Tartu and Pärnu in Estonia, Daugavpils and Jelgava in Latvia and Klaipeda in Lithuania. In those cities Fortum also owns four CHP plants as well as a 49% share of the Kaunas CHP (commissioned in 2020) in Lithuania, through a joint venture. In 2020, Fortum's sold 1.4 TWh of heat and 0.6 TWh of power in the Baltic countries.
In 2019, Fortum announced its plans to sell its district heating activities in Estonia and extended its divestment plans to the district heating businesses in the other Baltic countries in February 2020. The group also sold its district heating businesses in Joensuu and Järvenpää, in Finland, in 2020, and is considering selling its heating and cooling businesses in Poland.