References/3 Mar 2023

Borenius advised Väre on the purchase of retail electricity sales business from Ilmatar Energy

We advised Väre Oy on the purchase of the retail electricity sales business from Ilmatar Energy Oy. Upon the completion of the transaction, approximately 30,000 consumer and business customers of Ilmatar Energy will be transferred to Väre. With the purchase, Väre strengthens its position as a pioneering partner for comprehensive energy services and new energy solutions on the Finnish electricity retail market.

Väre is an independent joint venture established in 2018 and owned by Savon Voima Oyj, Kuopion Energia Oy, Alva-yhtiöt Oy and Lappeenranta Energia Oy. Väre is a domestic, modern energy services company with a particular emphasis on sustainable development, and it is one of the largest electricity retailers in Finland.

Ilmatar is a Finnish energy company and an independent power producer founded in 2011. It focuses exclusively on renewable energy.

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