Downing Acquires Three Hydropower Plants in Northern Finland
Downing has agreed to acquire Tornionlaakson Voima Oy, which operates three hydropower plants in Finland's Tengeliönjoki river basin. The agreement was signed on March 25, 2026, with sellers Tornionlaakson Sähkö Oy and PVO-Vesivoima Oy. The transaction is expected to close in spring 2026, pending approval from the Ministry of Economic Affairs and Employment. Downing will maintain operations post-acquisition and plans to integrate these plants into its existing renewable energy portfolio in the Nordic region.
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Funds managed by Downing have signed an agreement to acquire Tornionlaakson Voima Oy, which owns three hydropower plants in northern Finland's Tengeliönjoki river basin. The agreement, finalized on March 25, 2026, involves sellers Tornionlaakson Sähkö Oy and PVO-Vesivoima Oy.
The transaction is anticipated to complete in spring 2026, pending approval from the Ministry of Economic Affairs and Employment. Post-acquisition, Downing will continue operations at Tornionlaakson Voima and integrate the plants into its renewable energy portfolio, which includes 50 hydropower facilities in Sweden, Norway, and Iceland.
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