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Blåsjön, which has been held by Fortum and Uniper through their JV Blåsjön Kraft AB is located in Strömsund in northern Sweden. In addition Blåsjön Kraft AB owns several hydro power assets in the region. The company is acquired by Downing Renewables and Infrastructure Trust plc (“DORE”) and represents their second acquisition in the grid and grid stability services sector. DORE is a closed-end investment trust that aims to provide investors with an attractive and sustainable level of income, with an element of capital growth, by investing in a diversified portfolio of renewable energy and infrastructure assets in the UK and Northern Europe.
EY’s dedicated Nordic energy corporate finance team advised the sellers through a competitive M&A process generating interest from Swedish and European investors.