Fortum has today completed the acquisition of a development portfolio from German ABO Energy, a company specializing in renewable energy development projects and construction. The transaction involved approximately 4.4 GW of onshore wind power development projects in various stages located in Finland. The transaction was announced on July 23, 2025.
The debt-free purchase price, approximately EUR 40 million, was paid upon completion of the transaction. The transaction also includes the possibility of project-specific additional purchase prices (earn-out), which will be paid if the projects progress to an investment decision. The estimated total purchase price, including future project-specific additional purchase prices, is approximately EUR 65 million. Currently, no investment commitments have been made, and each investment decision depends on the electricity market situation and, in particular, the development of electricity demand from industry.
The acquisition supports Fortumâs goal to prepare for future growth by developing ready-to-build renewable energy projects in the Nordics. Fortum has approximately 8 GW of solar and onshore wind power projects in the Nordics undergoing permitting processes, in addition to projects in early development stages.
How does Russiaâs activity affect those hydropower plants? Fortum seems to be the operator. Do you see a risk that Russia would retaliate and, so to speak, âturn off the tapsâ?
He was elected CEO of Enento about a week ago. Hopefully, he intends to transfer the Fortum money into his new employerâs shares (irresponsible speculation).
