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Vestas and Fortum settle arbitration over Russian wind energy projects

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Danish wind turbine manufacturer Vestas and Nordic energy company Fortum have settled their arbitration dispute regarding wind energy projects in Russia. Both parties agreed to drop all past, present, and future claims, with the settlement terms remaining confidential. The dispute began in 2022 when Fortum initiated arbitration at the International Chamber of Commerce in Stockholm. Fortum sought more than $218 million (€200 million) in compensation from Vestas for payments made on wind projects in Russia…

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Fortum reports daily cyberattack attempts on its power assets

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Finnish utility Fortum has revealed that its power assets face daily cyberattack attempts and less frequent surveillance activities, such as drone flyovers. According to CEO Markus Rauramo, disturbances in satellite connections were also noted earlier this year. Fortum, whose assets include hydropower, wind, solar, nuclear, and heat plants, has engaged Finnish authorities to investigate these incidents. The company has implemented precautionary measures, including strict access controls, security services, and emergency drills with local authorities. Fortum’s…