CapMan Infra investing in energy network in Finland
CapMan Infra is investing in district heating and electricity network infrastructure in Hamina, Finland to reduce the town’s carbon footprint and to improve the availability of district heating for new customers.
“We are very pleased to support the development of Hamina’s energy infrastructure”, said Pekko Haaksluoto, Partner, CapMan Infra. “It is a vibrant city, and we see a lot of growth potential in the area. Our goal is to further strengthen the positive development of the region, enhancing its attractiveness both as a place to live and as a destination for industrial projects. We also welcome the opportunity to invest in heat production carbon neutrality.”
The CapMan Nordic Infrastructure II fund has acquired two subsidiaries from Haminan Energia, a company owned by the City of Hamina: Haminan Kaukolämpö Oy and Haminan Sähköverkko Oy.
Haminan Kaukolämpö is a district heating company which produces and distributes heat to households, businesses, and public sector clients in Hamina. Haminan Sähköverkko is an electricity network operator, responsible for the electricity distribution grid within the Hamina city area.
CapMan Infra’s goal is to grow the companies while developing the local energy infrastructure in Hamina. CapMan Infra’s acquisition enables an investment in a new heat pump plant to utilise waste heat from Google’s data centre, which will allow Haminan Kaukolämpö to provide emission-free district heating to new customers and expand the network. Once completed, the waste heat facility will cover approximately 70–80% of the city’s district heating energy needs, promoting Hamina’s overall carbon neutrality.
“This arrangement secures the interests of Hamina Energia’s customers, personnel, owner, financiers, and city residents in the best possible way”, said Kimmo Rahkamo, CEO, Hamina Energy.
The transaction is expected to be completed by the end of 2024. The new company will continue operating as a local energy company under the name Haminan Energia, which will be transferred as part of the sale. In addition to the personnel of the acquired companies, the majority of Hamina Energia Oy’s employees will transfer to the new company as a result of the transaction. The sale will not affect the companies’ customers.
The CapMan Nordic Infrastructure II fund is an Article 8 fund with a clear sustainability strategy, aiming to create value by accelerating the green transition in its portfolio companies. The fund has already made four investments: two in a growing data centre platform, one in solar energy company Skarta Energy, and one in Napier, a leading provider of transportation infrastructure for the aquaculture industry.
