Orkla announced on 24 January 2025 that it had entered into agreements to sell its entire hydro power portfolio in two separate transactions. Hafslund AS (90%) and Svartisen Holding AS (10%) have now acquired Sarpsfoss Limited.
The transaction was completed today, following approval by the relevant competition authorities and the Norwegian Ministry of Energy. The underlying assets consist of run-of-the-river hydro power production in Sarpefossen and Mossefossen, with a combined average annual production of 536 GWh.
The release, dated 24 January 2025 is available here: https://newsweb.oslobors.no/message/637067
The transaction will have accounting effect from 1 April 2025.
As regards the transaction involving Å Energi’s acquisition of Orkla Energi AS and Trælandsfos Holding AS, the required regulatory approvals have now been obtained. Completion of this transaction will be announced to the market once it is concluded.
About Orkla ASA
Orkla ASA is a leading industrial investment company within brands and consumer-oriented businesses. At present, Orkla has 10 portfolio companies. The company takes a long-term and strategic approach to its investments, creating value by combining brand expertise with an investment company mindset. Orkla is listed on the Oslo Stock Exchange and is headquartered in Oslo, Norway. The Group had a turnover of NOK 70.7 billion in 2024 and has approximately 19,000 employees.
About Hafslund AS
Hafslund is an energy and infrastructure group consisting of three business areas, all working towards a world in balance with renewable energy. Hafslund owns and operates 81 hydro power plants, amounting to 21 TWh, from four power production areas: Aurland, Hallingdal and Valdres, Innlandet and Glomma. Hafslund AS is 100% owned by the Oslo municipality.
About Svartisen Holding AS
Svartisen Holding is a Norwegian entity owned by three Finnish utilities; i) Vantaan Energia Oy, ii) Oy Turku Energia - Åbo Energi Ab and iii) Keskusosuuskunta Oulun Seudun Sähkö. Svartisen Holding AS owns 55 year off-take rights related to the Svartisen hydro power plant in Meløy and 10% of Hafslund Produksjon Holding AS.
Orkla ASA
Oslo, 11 April 2025
Ref.:
SVP Investor Relations & Communication
Annie Bersagel
Mobile: +47 986 03 664
Email: annie.bersagel@orkla.no