Finnish Fortum to sell 10% in Norwegian hydropower firm

- The deal is expected to close this month

home > Hydro, Invesments, Europe, General 13.06.2018 10:33 Murat Temizer

Finnish Fortum to sell 10% in Norwegian hydropower firm

Finnish energy company Fortum agreed to sell 10 percent of its share in Norwegian hydropower company Hafslund Produksjon to Svartisen Holding AS for €160 million ($187 million), Fortum said on Wednesday.

Fortum said the deal is expected to close this month with an anticipated sales gain of approximately €75 million.

'Our minority share in Hafslund Produksjon has been a financial investment and is thus not a core asset for Fortum. We are focusing on cash flow generation and operational efficiency, and will continue to evaluate possibilities to optimize our asset portfolio,' said Markus Rauramo, CFO at Fortum.

Hafslund Produksjon is a hydropower production company operating in southern Norway. In 2017, the company's production amounted to 3.2 terawatt-hours.

By Murat Temizer

Anadolu Agency

energy@aa.com.tr

- Tensions between US and Iran, oil tanker attacks in Middle East and the climate crisis were hot topics in 2019
22.12.2019 Electricity , Natural Gas , Oil , Nuclear , Thermal , Lng/Lpg , Refining/Petro Chemistry , Wind , Solar , Hydro , Geothermal/Biomass , Projects , Oil , Natural Gas , Electricity , Energy Diplomacy , Energy Security , International Relations , News from companies , World , Türkiye , Europe , Eurasia , Americas , Middle East-Africa , General
© Anadolu Agency
-