The Finnish consortium, which will acquire the plants totaling 66MW of installed capacity, includes Vantaan Energia, Turku Energia, Oulun Energia, Pori Energia and Oulun Seudun Sahko.

The consortium will acquire Statkraft’s 13.2% stake in the Harjavalta hydropower plant, and 100% interests in the Koivukoski, Kolsi and Korkeakoski projects.

Statkraft acquired hydropower facilities in Finland as part of a transaction with Germany-based E.ON in 2004.

Statkraft CEO Christian Rynning-T√łnnesen said the decision to sell the Finnish power plants is based on strategic considerations.
"After completing the transaction Statkraft will not have power generation assets in Finland, but we will still be an active participant in the Finnish electricity market," Rynning-T√łnnesen added.

Statkraft, which employs 3700 people in over 20 countries, develops and generates hydropower, wind power, gas power and district heating.

Hydroelectric power provides the most of Statkraft’s renewable energy as the company operates 133 plants in Norway and 12 in Sweden.

Image: Statkraft operates 133 hydropower plants in Norway and 12 in Sweden. Photo: Courtesy of markuso/FreeDigitalPhotos.net.