Hafslund Eco, Infranode, and HitecVision to acquire Fortum Oslo Varme from Fortum and City of Oslo for $2.3bn.

Investor consortium including Hafslund Eco, Infranode, and HitecVision to acquire Fortum Oslo Varme, the Oslo district heating unit of Fortum, an electric power generation company, and the City of Oslo, for $2.3bn. Following the transaction, Hafslund Eco will become the majority owner with 60% ownership in Fortum Oslo Varme, while Infranode and HitecVision will have significant minority position of 20% each. "Through the agreement, we increase our annual energy production by almost 2 TWh and ensure ownership of critical infrastructure that provides essential services for Oslo's inhabitants. District heating has operational and ownership synergies with hydropower and operates in the same power market. As an owner, Hafslund Eco has a lot of expertise to contribute with in that area," Martin S. Lundby, Hafslund Eco Deputy CEO and Executive Vice President.