Jul 24, 2025
Fortum is set to acquire a 4.4-GW onshore wind portfolio in Finland from ABO.
Finnish energy company Fortum Oyj has agreed to acquire a roughly 4.4-GW onshore wind power portfolio in Finland from German developer ABO Energy GmbH & Co KGaA.
This portfolio includes projects at various development stages, as stated by Fortum on Wednesday.
The purchase price is approximately EUR 40 million (USD 47.1 million) on a debt-free basis, to be paid upon closing the deal in the last quarter of this year. The agreement also features earn-outs that could increase the total cost to around EUR 70 million, contingent on projects reaching final investment decisions.
The initial projects could attain ready-to-build status within a year, with Fortum indicating that investments will be influenced by market conditions and industrial power demand.
This acquisition is anticipated to enhance Fortum’s pipeline as it aims to expand by implementing shovel-ready projects in the Nordic region. Once completed, it will increase the Finnish company’s Nordic portfolio of onshore wind and solar projects in the permitting phases to 8 GW.
The purchase aligns with Fortum’s objective of developing at least 800 MW of ready-to-build onshore wind and solar projects by the end of 2026.
ABO Energy noted that the sale of the majority of ABO Energy Suomi Oy’s pipeline will significantly reduce its market share in Finland but enable it to concentrate on projects in other European countries, especially Germany, France, and Spain. The company does not expect the deal to impact its profit forecast for 2025.
This portfolio includes projects at various development stages, as stated by Fortum on Wednesday.
The purchase price is approximately EUR 40 million (USD 47.1 million) on a debt-free basis, to be paid upon closing the deal in the last quarter of this year. The agreement also features earn-outs that could increase the total cost to around EUR 70 million, contingent on projects reaching final investment decisions.
The initial projects could attain ready-to-build status within a year, with Fortum indicating that investments will be influenced by market conditions and industrial power demand.
This acquisition is anticipated to enhance Fortum’s pipeline as it aims to expand by implementing shovel-ready projects in the Nordic region. Once completed, it will increase the Finnish company’s Nordic portfolio of onshore wind and solar projects in the permitting phases to 8 GW.
The purchase aligns with Fortum’s objective of developing at least 800 MW of ready-to-build onshore wind and solar projects by the end of 2026.
ABO Energy noted that the sale of the majority of ABO Energy Suomi Oy’s pipeline will significantly reduce its market share in Finland but enable it to concentrate on projects in other European countries, especially Germany, France, and Spain. The company does not expect the deal to impact its profit forecast for 2025.