Fortum Acquires 4.4 GW Finnish Wind‑Development Portfolio from ABO Energy

Fortum Acquires 4.4 GW Finnish Wind‑Development Portfolio from ABO Energy

(IN BRIEF) Fortum will purchase ABO Energy’s Finnish wind‑power development portfolio, adding 4.4 GW to its Nordic pipeline for €40 million at closing, with earn‑outs potentially bringing the total to €70 million. Closing is expected in Q4 2025, and initial projects may become ready‑to‑build within a year. This acquisition helps Fortum pursue its target of 800 MW of ready‑to‑build capacity by end‑2026 and expands its permit‑stage onshore wind and solar pipeline in the Nordics to about 8 GW. Investment decisions will be guided by evolving power market dynamics and industrial electricity demand.

(PRESS RELEASE) ESPOO, 24-Jul-2025 — /EuropaWire/ — Fortum has agreed to acquire ABO Energy’s Finnish onshore wind development portfolio, adding roughly 4.4 GW of projects at various permitting stages to its pipeline. The €40 million debt‑ and cash‑free purchase price will be paid at closing—anticipated in Q4 2025—subject to standard conditions. Earn‑out payments tied to final investment decisions could raise the total consideration to about €70 million. No capital commitments are required up front, and Fortum expects its first acquired sites to reach ready‑to‑build status within a year.

This deal bolsters Fortum’s strategic ambition to have at least 800 MW of construction‑ready wind and solar capacity by end‑2026. Including this acquisition, Fortum’s Nordic pipeline of permitted onshore wind and solar projects now stands at approximately 8 GW, with additional developments in earlier stages. Future investment decisions will hinge on market conditions, particularly industrial power demand trends.

Further information:

Investors and analysts:

Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531

Siri Markula, Director, Investor Relations and Financial Communications, tel. +358 40 743 2177

Media:

Fortum News Desk, tel. +358 40 198 2843

SOURCE: Fortum Corporation