n the spring of 2025, we updated our strategy, engaging all our employees in the process. The main strategic directions remained unchanged, but we refined our performance indicators and climate targets. We set a new goal of achieving a science-based net zero target by 2040, replacing the previous carbon neutrality target for 2030. 

During the year, our most significant growth projects progressed from plans to concrete actions. The 60% share transaction of Kemin Energia ja Vesi Oy (Kenve) was completed on 29 August. We are closely integrating Kenve’s current operations into those of the Oulun Energia Group. Construction work on Finland’s largest plastics recycling plant, being built in Hyvinkää by our circular economy company Syklo, is progressing as planned. The industrial-scale biocomposite plant is under construction next to the plastics recycling plant. The plants will be commissioned in the summer of 2026 and should be in commercial production by the end of the same year. 

During the year, we strongly advanced investments in renewable energy. We joined Suomen Aurinkovoima Oy, which, at the end of the year, made an investment decision of 15 million euros to build three new solar farms. In addition, together with four other energy companies, we founded Männikkötuulet Oy, which acquired two onshore wind farms in Vöyri and Nykarleby. 

With the 60-megawatt electric boiler completed in the summer of 2025, our electric boiler capacity increased to 100 megawatts, which reinforces our ability to take advantage of low electricity prices and reduce combustion-based district heat production. In addition, we started the construction of a battery energy storage system in the Toppila power plant area, which, at its completion next year, will provide new balancing capacity. 

Sustainability is at the core of our operations, encompassing the environment, people, and regional vitality. We are committed to developing the Merikoski area in Oulu and to improving the living conditions of migratory fish. After a survey on the development opportunities of the area was completed in 2025, we began advancing the planning of restoration measures in more detail together with the City of Oulu. We invested in culture and our employees especially through a cultural ambassador programme and the development of workplace safety. In 2025, three lost-time accidents occurred, prompting us to strengthen workplace safety through an internal campaign. 

I would like to thank our customers, employees, owners, other partners, and our interest groups for their support and trust in 2025! 

 

Arto Sutinen 
CEO