Finnish energy company Fortum has agreed to acquire a 4.4 gigawatt (GW) portfolio of onshore wind development projects in Finland from Germany’s ABO Energy, in a deal aimed at expanding its renewable energy pipeline.
The agreed purchase price is approximately €40 million on a debt- and cash-free basis, to be paid at closing. The transaction is expected to complete in the fourth quarter of 2025, pending regulatory approvals, Fortum said on Wednesday.
The total value of the deal could rise to around €70 million, subject to additional earn-out payments if certain projects reach final investment decision stages in the future.
Fortum said the first projects in the acquired portfolio could reach ready-to-build status within 12 months. “This acquisition strengthens Fortum’s development pipeline for renewable power as the company prepares for future growth by developing ready-to-build projects in the Nordic countries,” the company said in a statement.
The utility is targeting the development of at least 800 megawatts (MW) of ready-to-build onshore wind and solar projects by the end of 2026 as part of its broader clean energy strategy.
