Downing acquires three hydropower plants in Finland
Type: Acquisition · Technology: Hydro · Country: Finland · Announced: 2026-06-22
Funds managed by Downing, a UK-based investment manager, completed the acquisition of Tornionlaakson Voima Oy, which owns and operates three hydropower plants in the Tengeliönjoki river basin in Northern Finland. The transaction was approved by Finland's Ministry of Economic Affairs and Employment on 22 June 2026, following a review of foreign corporate acquisitions. Downing, which has a long history of investing in Nordic renewable energy, now operates the business while maintaining unchanged responsibilities and daily operations. The acquisition complements Downing's existing 30 MW wind farm in Konttisuo, Ostrobothnia, Finland, and expands its hydropower portfolio to approximately 50 plants across Sweden, Norway, and Iceland. The parties agreed on transitional services to ensure a seamless and responsible transfer of ownership.
Counterparties
- Tornionlaakson Sähkö Oy (Seller)
- Downing (Buyer)
- PVO-Vesivoima Oy (Seller)