en.Wedoany.com Reported - A fund managed by UK investment management firm Downing has completed the acquisition of Tornionlaakson Voima Oy, a company that owns and operates three hydropower plants located in the Tengeliönjoki River basin in northern Finland.

In March 2026, the former owners of Tornionlaakson Voima, Tornionlaakson Sähkö Oy and PVO-Vesivoima Oy, signed an agreement to sell all their shares to Downing, a company with extensive experience in renewable energy investments in Nordic countries. The transaction required approval from the Finnish Ministry of Economic Affairs and Employment for the acquisition of a business by a foreign entity, which was granted on June 22, 2026, and the deal has now been completed.

The transaction was carried out through an equity acquisition, meaning Tornionlaakson Voima will continue to operate as an independent company. Its responsibilities and obligations remain unchanged, and Downing will take over ownership of the company. Daily operations will proceed as normal, and the transaction will have no impact on customers. Following the acquisition, Downing will continue to manage the business.

Henrik Dahlström, Senior Investment Director at Downing, said: "We are delighted to have completed the acquisition of Tornionlaakson Voima, which is an excellent addition to our 30 MW wind farm in Konttisuo, Ostrobothnia, Finland."

"Downing's hydropower portfolio includes approximately 50 hydropower plants in Sweden, Norway, and Iceland. We have an experienced team to ensure continuity of responsible management while investing in the long-term future of these assets. We remain committed to strengthening our presence in the Nordic region," he added.

Both parties have agreed to provide transition services to ensure a smooth and responsible transfer of ownership.