Fortum to acquire Telge Energi
Fortum Oyj has agreed to acquire Swedish electricity provider Telge Energi AB. The transaction strengthens Fortum's position in the Nordic clean electricity market.
Energy company Fortum Oyj has agreed to purchase Swedish electricity solutions provider Telge Energi AB for approximately SEK 450 million (EUR 39 million). The acquisition supports Fortum's strategy to deliver reliable and clean energy and to decarbonize customer processes.
Telge Energi is among the 10 largest clean electricity retailers in Sweden, serving approximately 150,000 consumer and enterprise customers. In 2022, the company delivered 1.8 TWh of clean electricity and has around 100 employees.
The transaction is subject to approval from the Swedish Competition Authority and Södertälje municipality. The deal is expected to close in the third quarter of 2023.
Mikael Rönnblad, Executive Vice President of Fortum’s Consumer Solutions, stated that the combination with Telge Energi will create synergy benefits and enhance the development of new solutions for customers, furthering Fortum's sustainable offerings in its core markets.