Expanding the shareholder base of Fortum’s Nordic wind power portfolio

Expanding the shareholder base of Fortum’s Nordic wind power portfolio

Finnish energy company Fortum is selling a majority stake in a group of wind power assets of 500 MW in the Nordic countries to advisory funds from Credit Suisse infrastructure partners.

Fortum recently signed an agreement to sell 80% of the interest in the respective portfolio, an estimated 250 million euros (278 million US dollars), on a debt-free and cash-free basis.

London-based financial consulting firm Augusta announced that it has overseen the deal.

Justin FitzHugh, a partner at the consulting firm, said that the northern markets remain an attractive proposition given the utility strategy of selling and recycling capital to support new large-scale projects.

Last year, Augusta participated in transactions covering more than 1.25 GW of renewable energy assets in Norway, Finland and Sweden, including the latter. In general, the foundation has worked on renewable energy contracts in the Nordic countries for about 2.5 GW since 2016.

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Aasem Abuzeid

Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.