popular articles

Cyberattacks: Fortum Faces Increasing Threats to Its Infrastructures in Finland and Sweden

Fortum, a major player in the Finnish energy sector, is confronting a surge of cyberattacks and suspicious surveillance activities around its facilities in Finland and Sweden, likely orchestrated by Russian actors, heightening geopolitical tensions in the region.

Please share:

Fortum, one of the leading companies in the Finnish energy sector, is experiencing daily cyberattacks and surveillance activities on its critical infrastructures in Finland and Sweden. These incidents include attempts to disrupt satellite connections, unidentified drone flyovers, and physical surveillance of energy production sites. This intensification of malicious activities appears to be linked to the deteriorating relations with Russia, following Finland and Sweden’s decision to join NATO after the 2022 invasion of Ukraine.

According to Fortum’s data, its energy production facilities, including hydroelectric, wind, solar, and nuclear power plants, have seen a significant increase in the number of cyberattacks since the beginning of 2024. GlobalData reported that the first quarter of 2024 recorded the highest number of attacks targeting critical infrastructures in the past four years. This trend seems to be exacerbated by the increased integration of renewable energy sources, which has expanded the attack surface for hackers.

The growing complexity of these cyberattacks is accompanied by new vulnerabilities, particularly within the older management and control systems of the facilities. As a result, Fortum has decided to strengthen its security protocols by adopting advanced technologies and implementing regular system updates. These measures aim to address both existing vulnerabilities and emerging threats, ensuring the resilience of their energy infrastructure against sophisticated cyber threats.

Fortum’s Response to Cyber Threats

To mitigate these risks, Fortum has implemented enhanced security measures, such as stricter access controls, deployment of private security personnel, and conducting emergency simulation drills in collaboration with local authorities. These initiatives are designed to minimize operational disruptions and safeguard critical energy assets. Additionally, Fortum has invested in advanced cybersecurity technologies, including intrusion detection systems and real-time monitoring solutions, to proactively identify and neutralize potential threats.

Cooperation with national security agencies remains limited, as attributing these attacks to state actors, particularly Russians, remains a sensitive issue. Nevertheless, Fortum’s officials acknowledge that Russian involvement is strongly suspected based on intelligence assessments and the nature of the attacks. This collaboration, albeit constrained, is crucial for sharing threat intelligence and coordinating responses to mitigate the impact of cyber incidents.

Geopolitical Context

Finland and Sweden’s accession to NATO has been perceived by Russia as a direct threat to its national security. In response, Moscow has intensified its intelligence and cyber-espionage operations against its Nordic neighbors. This situation has become particularly tense since Russia seized Fortum’s energy assets in its territory, valued at approximately $1.9 billion, in retaliation to European sanctions imposed following the Ukraine conflict.

Finnish and Swedish intelligence agencies have warned that Russia may seek to test the resilience of their energy infrastructures while collecting strategic information. Unidentified drone flyovers and attempts to disrupt Fortum’s satellite communications illustrate these efforts to create uncertainty and exert pressure on energy sector players. These actions are part of a broader strategy to destabilize the region’s energy security and gain leverage in geopolitical negotiations.

Moreover, the increased cyber activities coincide with Russia’s broader strategy to undermine Western alliances and assert its influence in Europe. By targeting critical infrastructure, Russia aims to weaken the economic stability and security of NATO member states, thereby diminishing their capacity to coordinate effectively within the alliance.

Perspectives for Fortum and the Energy Sector

Despite the increase in threats, Fortum states that the impact on its operations remains limited, highlighting the effectiveness of its protective measures. The company’s ability to maintain operational continuity amidst persistent attacks underscores the importance of robust cybersecurity frameworks in the energy sector. However, the persistence of these attacks indicates a long-term strategy aimed at assessing system robustness, gathering sensitive intelligence, or potentially disrupting energy supply chains in the region.

Looking ahead, Fortum and other companies in the sector will need to further strengthen their investments in cybersecurity and collaborate more closely with intelligence agencies to protect their critical infrastructures. The security of energy assets, in an unstable geopolitical context, could become a priority issue for the European Union as tensions with Russia continue to escalate. Enhanced international cooperation and information sharing will be essential in developing comprehensive defense strategies to counteract the evolving threat landscape.

Additionally, the energy sector must anticipate and prepare for the integration of emerging technologies that could both enhance operational efficiencies and introduce new vulnerabilities. As renewable energy sources become more prevalent, the sector must balance the benefits of modernization with the imperative of maintaining stringent security standards to protect against increasingly sophisticated cyber threats.

Register free of charge for uninterrupted access.

Publicite

Recently published in

CMS Energy launches debt repurchase offer for $125 million

CMS Energy Corporation has announced a cash tender offer for debt securities totalling $125 million, issued by Consumers Energy. The offer expires on July 3, 2025, with priority given to bonds submitted before June 17, 2025.
Vermilion Energy is exiting the U.S. market permanently by selling its assets for C$120mn ($87.88mn), refocusing its operations on Canada and Europe while reducing its debt and investment budget.
Vermilion Energy is exiting the U.S. market permanently by selling its assets for C$120mn ($87.88mn), refocusing its operations on Canada and Europe while reducing its debt and investment budget.
In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.
In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.

Suspicion of Collusion: Formal Investigation Launched into Czech Energy Auction

The Czech regulatory authority launches an investigation into suspected collusion involving several major actors in the awarding of a thermal power plant, putting transparency of a strategic transaction for the energy sector at stake.
The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.
The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.
European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.
European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.
Greenvolt Group finalised the sale of 28 solar and wind projects to Transiziona, valued at €195mn, bringing total asset sales to €530mn in 2025 as part of its pan-European strategy.
Greenvolt Group finalised the sale of 28 solar and wind projects to Transiziona, valued at €195mn, bringing total asset sales to €530mn in 2025 as part of its pan-European strategy.

Aegis Vopak Terminals goes public in Mumbai with €2.7bn valuation

Royal Vopak’s Indian joint venture rose nearly 3% on its first trading day in Mumbai, reaching an implied valuation of €2.7bn ($2.93bn).
US investment fund Davidson Kempner has reached an agreement to acquire Swire Energy Services, a provider of offshore equipment, strengthening its position in the global energy market.
US investment fund Davidson Kempner has reached an agreement to acquire Swire Energy Services, a provider of offshore equipment, strengthening its position in the global energy market.
Saudi-based ACWA Power has signed strategic agreements in Malaysia to develop up to 12.5 GW of energy capacity by 2040, with a potential investment of $10 billion.
Saudi-based ACWA Power has signed strategic agreements in Malaysia to develop up to 12.5 GW of energy capacity by 2040, with a potential investment of $10 billion.
Fusion Fuel Green has signed a preliminary agreement to acquire a private UK-based fuel distribution company generating $58mn in revenue, through a £50mn debt-equity structured transaction.
Fusion Fuel Green has signed a preliminary agreement to acquire a private UK-based fuel distribution company generating $58mn in revenue, through a £50mn debt-equity structured transaction.

ExxonMobil enters exclusive talks to sell its stake in Esso S.A.F.

ExxonMobil plans to sell its 82.89% stake in Esso S.A.F. to North Atlantic France, valuing shares based on €1.49bn cash holdings and a price subject to several adjustments.
Patrick Pouyanné reassures shareholders by confirming TotalEnergies' strategic direction, combining hydrocarbons and low-carbon electricity, despite an unstable economic environment and climate activist protests in Paris.
Patrick Pouyanné reassures shareholders by confirming TotalEnergies' strategic direction, combining hydrocarbons and low-carbon electricity, despite an unstable economic environment and climate activist protests in Paris.
UK-based SSE recorded an adjusted operating profit of £2.42bn for fiscal year 2024/25, supported by record investments in networks and renewable energy.
UK-based SSE recorded an adjusted operating profit of £2.42bn for fiscal year 2024/25, supported by record investments in networks and renewable energy.
Iberdrola has signed an agreement to acquire the distribution, supply and energy generation activities of Electra del Maestrazgo, a family-owned company operating in Castellón and Teruel, for an undisclosed amount.
Iberdrola has signed an agreement to acquire the distribution, supply and energy generation activities of Electra del Maestrazgo, a family-owned company operating in Castellón and Teruel, for an undisclosed amount.

John Bryson, former CEO of Edison International, dies at 81 after a landmark career

John Bryson, a key figure in the American energy sector, has died at the age of 81. The former CEO of Edison International played a decisive role during California’s electricity crisis.
New York state regulators have approved a $5 billion budget for energy efficiency and electrification programmes, set to launch on January 1, 2026.
New York state regulators have approved a $5 billion budget for energy efficiency and electrification programmes, set to launch on January 1, 2026.
Aircela has introduced a unit capable of producing gasoline directly from air, water, and renewable electricity, without using fossil resources.
Aircela has introduced a unit capable of producing gasoline directly from air, water, and renewable electricity, without using fossil resources.
Sustainability Partners will now manage the operational oversight of Ecofin’s U.S. portfolio, comprising solar and wind projects under contract with investment-grade electricity providers.
Sustainability Partners will now manage the operational oversight of Ecofin’s U.S. portfolio, comprising solar and wind projects under contract with investment-grade electricity providers.

Eni sells 20% of Plenitude to Ares in $13bn valuation deal

Italian group Eni enters exclusive talks with Ares to sell a minority stake in Plenitude as part of a targeted funding strategy for its low-carbon subsidiaries.
SBM Offshore posted quarterly revenue of $1,103mn, driven by the Turnkey segment, while maintaining full-year targets and advancing the deployment of its floating units scheduled for 2025.
SBM Offshore posted quarterly revenue of $1,103mn, driven by the Turnkey segment, while maintaining full-year targets and advancing the deployment of its floating units scheduled for 2025.
Shell paid $28.1bn to governments in 2024 for its extractive activities, with major flows reported in Nigeria, Malaysia and Oman, according to its regulatory disclosure in the United Kingdom.
Shell paid $28.1bn to governments in 2024 for its extractive activities, with major flows reported in Nigeria, Malaysia and Oman, according to its regulatory disclosure in the United Kingdom.
CGN Brasil and the government of Piauí have signed an agreement to develop a 1.4 GW energy complex combining solar, wind and storage, with a planned investment of $578mn.
CGN Brasil and the government of Piauí have signed an agreement to develop a 1.4 GW energy complex combining solar, wind and storage, with a planned investment of $578mn.

Advertising