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.

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.

Iberdrola strengthens its financial position with a new five-year credit facility, signed with 32 banks, to support investments in power grids and renewable energy, particularly in the United States.
Kinder Morgan, Inc. reports strong financial results for the second quarter of 2025, with net profit up 24% and a project backlog boosted by major new investments in natural gas transportation.
CenterPoint Energy remains vigilant as Invest 93L approaches, deploying emergency plans and pursuing upgrades to its electrical infrastructure across the Greater Houston area.
The Georgia Public Service Commission approves the 2025 Integrated Resource Plan, which includes major investments in generation, storage and the grid to address the strong rise in electricity demand.
Norwegian industrial group Aker ASA achieved a strong surge in its share price in the first half, expanded its diversification into real estate, and executed major transactions despite global energy market volatility.
ADNOC announces the transfer of 24.9% of its shares in OMV to its subsidiary XRG, continuing the streamlining of its international assets and preparing the creation of Borouge Group International.
The SMI China Forum brings together international and Chinese leaders for dialogue on supply chains, investment and energy innovation, marking a major step in public-private sector cooperation.
Mining group BHP sees low-emission iron production in Australia as unprofitable, just as Canberra and Beijing announce closer cooperation to decarbonise the global steel industry.
Aker Carbon Capture distributed $162mn in dividends to its shareholders, a direct consequence of significant asset disposals and a substantial restructuring of its balance sheet in the second quarter of 2025.
Equinor ASA acquired 2.1 mn of its own shares on the Oslo Stock Exchange for a total of $201 mn between July 7 and 11, continuing the second phase of its 2025 buyback programme.
Norwegian group Aker Horizons transfers all its activities to a subsidiary of Aker ASA, sells major assets and prepares its new strategy after a half-year net loss of $220mn.
South Texas Electric Cooperative is seeking proposals for the acquisition or purchase of energy for 500 MW of dispatchable capacity, aiming to strengthen long-term supply security in the ERCOT region.
A federal funding package of $16mn aims to accelerate grid modernisation, renewable energy development and carbon capture in Canada’s Maritime provinces.
RTE and Nexans announce the creation of a recycling chain dedicated to aluminium from electrical cables, targeting 600 tonnes annually and covering the entire industrial cycle from collection to production.
Three scientists from China, the United States and Russia are laureates of the 2025 Global Energy Prize, honoured for their work on high-voltage power lines, fuel-cell catalysts and pulsed energy technologies.
Rio Tinto’s new CEO inherits a significant stock market discount and will need to overcome major regulatory, operational, and financial hurdles to swiftly restore the company's appeal to international investors, according to a Wood Mackenzie analysis.
Westbridge Renewable Energy enters digital infrastructure market with Fontus, a 380 MW data centre campus in Colorado, positioned to meet strong growth in US cloud and artificial intelligence services.
Offshore drilling company Borr Drilling Limited announced the completion of an initial tranche issuance of 30 million ordinary shares out of the planned 50 million, raising $61.5mn towards the total goal of $102.5mn.
EDF announces a new internal organization with key executive appointments to enhance decision-making efficiency and expedite the revival of nuclear and hydroelectric projects central to its industrial strategy.
Rubis announces half-year results of its liquidity agreement managed by Exane BNP Paribas, totalling 241,328 shares exchanged for an aggregate amount of €6.5mn in the first half of 2025.