19.12.2024

Fortum Acquisition of a project development portfolio for renewable power from Enersense

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We are acting as a counsel to Fortum in a transaction in which Fortum is strengthening its renewable power project pipeline through the acquisition of a project development portfolio from Enersense.

The debt-and-cash free purchase price is approximately EUR 9 million, with the potential for project-specific earn-outs subject to projects successfully reaching a final investment decision in the future. The transaction is subject to customary closing conditions and is expected to be completed during the first quarter of 2025.

Fortum is a leading Nordic energy company with the purpose to power a world where people, businesses and nature thrive together. Fortum’s core operations comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers.

The company is listed on Nasdaq Helsinki. One of Fortum’s strategic targets is to develop at least 800 MW of ready-to-build onshore wind and solar projects by the end of 2026.

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