Tornionlaakson Voima Ltd, which owns three hydropower plants in the Tengeliö River basin in Northern Finland, has been transferred to funds managed by the British investment company Downing. The transaction was completed on 30 June 2026 after receiving voluntary confirmation from the Ministry of Economic Affairs and Employment regarding a foreign corporate acquisition.
As a result of the transaction, Downing will assume responsibility for the company as its owner going forward. Tornionlaakson Voima’s responsibilities and obligations remain unchanged, and the transaction has no impact on customers.
PVO-Vesivoima Ltd and Tornionlaakson Sähkö Ltd signed an agreement on 25 March 2026 to sell the entire share capital of Tornionlaakson Voima Ltd, which they jointly owned, to Downing. Completion of the transaction was conditional on obtaining the voluntary approval by the Ministry of Economic Affairs and Employment regarding foreign corporate acquisition.
PVO-Vesivoima Ltd and Tornionlaakson Sähkö Ltd would like to thank their stakeholders for many years of good cooperation.
For matters related to Tornionlaakson Voima going forward, please contact:
Taina Hyppölä, Head of Downing Renewable Developments Finland
taina.hyppola@downing.fi
Tel. +358 41 548 0639