Tornionlaakson Voima transfers to new ownership

On 25 March 2026, Tornionlaakson Voima’s current owners, PVO-Vesivoima Oy and Tornionlaakson Sähkö Oy, signed an agreement to sell the entire shareholding of Tornionlaakson Voima Oy to Downing, with a long history and focus on Nordic renewable energy. This is a share transaction, meaning that Tornionlaakson Voima will continue operating as a company. As a result of the transaction, the company’s responsibilities and obligations will remain unchanged, with Downing assuming ownership responsibility for the company. The daily operations of Tornionlaakson Voima will continue as normal and the transaction will not affect customers. The completion of the transaction is subject to a voluntary review and approval by the Ministry of Economic Affairs and Employment regarding foreign corporate acquisitions.

“The new owner brings additional resources for the future of the smaller-scale hydropower plants located in the Tengeliönjoki river basin. PVO-Vesivoima will focus on developing its operations in its core areas: the Ii and Kemijoki rivers, as well as the Kokemäenjoki river,” says Jani Pulli, Managing Director of PVO-Vesivoima Oy.

“Downing, with its focus on renewable energy sector, has the strong capabilities to develop the operations of Tornionlaakson Voima’s hydropower plants. At Tornionlaakson Sähkö, we want to enable new growth in our area, both in network operations and energy production,” says Sakke Rantala, Managing Director of Tornionlaakson Sähkö Oy.

“We are pleased to be acquiring Tornionlaakson Voima, an excellent complement to our existing 30 MW windfarm Konttisuo in Ostrobothnia, Finland. With circa 50 hydropower plants across Sweden, Norway and Iceland in Downing’s existing hydropower portfolio, we have an experienced team which will continue the responsible operation of the company while investing for the long-term future of these assets. We remain committed to continue building our business in the Nordic region,” says Henrik Dahlström, Senior Investment Director at Downing.

The parties have agreed on transitional services to ensure a seamless and responsible transfer of ownership.

 

Additional Information:

Jani Pulli, Managing Director, PVO-Vesivoima Oy, jani.pulli@pvo.fi, tel. +358 50 386 2680

Sakke Rantala, Managing Director, Tornionlaakson Sähkö Oy, sakke.rantala@tls.fi,
tel. +358 40 664 6132

Taina Hyppölä, Head of Downing Renewable Developments, Downing Finland, taina.hyppola@downing.co.uk, tel. +358 41 548 0639