March 17, 2023

Ilmatar to hone its strategy – Electricity customers find new home with Väre

In line with its strategy, Ilmatar Energy Oy focuses on the development, construction and ownership of wind and solar power farms, entrusting Väre with sales of electricity to Ilmatar’s consumer and business customers. All contracts remain unchanged. Ilmatar will continue to serve its current customers until April 30, 2023.

Ilmatar Energy and Väre Oy have made an agreement according to which Ilmatar’s electricity contract customers are transferred to Väre starting May 1, 2023. For Ilmatar Energy, the decision is based on its strong growth strategy and increased business focus on the development, construction and ownership of wind and solar power farms and electricity storage facilities in the Nordic countries. 

With the agreement, approximately 30,000 consumer and business customers transfer over from Ilmatar to Väre. The transfer does not have any effect on Ilmatar’s customers’ electricity contracts, including their terms and conditions. They are transferred to Väre as such, with existing pricing and periods of validity. Customers are not required to take any action.

– Our new strategy has an increased focus on renewable energy investments in the Nordic countries. We are happy to transfer our electricity contract customers to Väre because we know they will continue to receive renewable energy produced by us and delivered by a customer-oriented retailer, says Rami Rajala, Ilmatar’s Director of Generation & Assets.

According to Väre’s Chief Executive Officer Juha Keski-Karhu, the company has actively sought strategic growth opportunities in the energy market. The agreement with Ilmatar Energy Oy is a continuation of the company’s growth trajectory. 
– We would like to welcome Ilmatar’s electricity contract customers to Väre and offer them the best energy app in Finland. It is an excellent tool for managing electricity use and saving electricity. We will ensure that the customers continue to receive completely emission-free electricity produced at Finnish wind farms, says Keski-Karhu. 

The agreement between Väre and Ilmatar does not concern their personnel – no Ilmatar employees are transferred to Väre. The price of the transaction will not be made public.
The transfer of contracts from Ilmatar to Väre constitutes a major shift in the industry, and it is therefore pending approval by the Finnish Competition and Consumer Authority.

Read more:

For more information:

Rami Rajala
Director, Generation & Assets
Ilmatar Energy Oy
+358 44 078 2799

Juha Keski-Karhu
Chief Executive Officer
Väre Oy
+358 447 237 150


Founded in Finland in 2011, Ilmatar is a Nordic energy company and an independent power producer that focuses exclusively on renewable energy. Ilmatar Energy’s business operations include the development, construction and maintenance of renewable energy. Ilmatar retains ownership of its projects throughout their lifecycle of up to 40 years. Ilmatar’s onshore and offshore wind power projects and solar power projects, at various stages of development in the Nordic countries, have a total rated capacity of 20 GW.

Ilmatar has offices in Helsinki, Malmö, Maarianhamina, Tampere and Oulu.


Väre is a modern-age Finnish energy service company and one of the biggest retailers of electricity in the country. Our goal is to be a pioneering partner in end-to-end energy services and new energy solutions. Our strengths include responsibility and swift and cost-efficient development of customer-oriented services. We offer services that help reduce energy costs and carbon dioxide emissions significantly. Väre’s Väppi service is the most valued energy application in the market. It has been developed to help our customers reduce their electricity consumption considerably.