Statkraft has agreed to sell its stake in four hydropower plants in Finland to a consortium of Finnish companies for NOK2 billion (US$326 million).

The plants – Harjavalta, Koivukoski, Kolsi, and Korkeakoski – have a combined capacity of 66MW. Statkraft owns a 13.2% stake in Harjavalta and 100% of the remaining three projects, with all four part of a larger transaction with E.ON Sweden in 2004.

In a statement, Statkraft said the decision to sell the plants was based on strategic considerations. Once the sale is complete, the company will have no power generation assets in Finland, but said it would still be an active participant in the country’s electricity market.

The consortium buying the plants consists of Vantaan Energia, Turku Energia, Oulun Energia, Pori Energia and Oulun Seudun Sähkö.