Fortum to sell its Finland power distribution grid

Finland's state utility Fortum will sell its electric power grid to a group of international investors for $3.5 billion.

Canada's Borealis Infrastructure and Australia's First State Investments are the leading the group. The sale was launched in September 2013.

Fortum is also exploring selling its distribution grids in Norway and Sweden, according to reports.

The Finnish grid is worth some $447.7 million in sales, and covers about 20 percent of the country's distribution. Analysts have valued Finland's T&D network at about $12.4 billion, according to reports.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs