Under the terms of the agreement, the Finnish consortium will buy Statkraft’s power plants which have a total installed capacity of 66MW.

The consortium comprises Vantaan Energia, Turku Energia, Oulun Energia, Pori Energia and Oulun Seudun Sähkö.

The hydropower plants include Harjavalta (Statkraft’s share is 13.2%), Koivukoski (100%), Kolsi (100%) and Korkeakoski (100%).

Statkraft CEO Christian Rynning-Tønnesen said Statkraft will be an active participant in the Finnish electricity market although it will not have power generation assets in Finland upon completion of transaction.

Statkraft, which has 3700 employees in more than 20 countries, develops and generates hydropower, wind power, gas power and district heating.