Iberdrola Acquires Majority Stake in Finland’s Caruna Electricity Network
Iberdrola has agreed to acquire an 80% stake in Caruna, Finland’s largest electricity distribution company, in a transaction valuing the company at approximately $5,7 billion (€5 billion), including debt.
The deal marks Iberdrola’s entry into the Finnish electricity network market. The company will pay around $2,2 billion (€2 billion) for the stake, while Nordic pension funds AMF and Elo will retain the remaining 20% ownership.
Caruna operates around 89,000 km of electricity distribution networks and serves approximately 1.5 million customers, representing more than 20% of Finland’s population.
The acquisition is part of Iberdrola’s strategy to increase investment in electricity networks, particularly in markets with stable regulation and growing demand linked to electrification, renewable energy expansion and data centre development.
The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals.
Source: iberdrola.com
