Downing to Acquire Tornionlaakson Voima Oy's Hydropower Plants in Finland

Downing has signed an agreement to acquire Tornionlaakson Voima Oy, which operates three hydropower plants in Finland. The transaction, signed on March 25, 2026, is subject to approval from the Ministry of Economic Affairs and Employment and is expected to close in spring 2026.

Published Mar 30, 2026

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.

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The transaction is pending approval from the Ministry of Economic Affairs and Employment and is expected to close in spring 2026. Downing plans to maintain operations and integrate the plants into its renewable energy portfolio in the Nordic region post-acquisition.