CapMan Infra Expands Investment in Hamina’s Energy Infrastructure

(IN BRIEF) CapMan Infra has announced a significant investment in Hamina, Finland, through its CapMan Nordic Infrastructure II fund, acquiring full ownership of Haminan Kaukolämpö Oy and Haminan Sähköverkko Oy from Haminan Energia. This acquisition aims to enhance the utilization of waste heat within the district heating network, helping to reduce the carbon footprint and improve heating availability for new customers. The investment will fund a new heat pump facility that will use waste heat from Google’s data center, allowing Haminan Kaukolämpö to provide emission-free district heating. The facility is expected to meet 70-80% of the city’s heating needs, contributing to Hamina’s carbon neutrality goals. The transaction is set to be completed by the end of 2024, with the new entity continuing to operate as Haminan Energia. The CapMan Nordic Infrastructure II fund is committed to driving sustainability and green transitions in its investments.

(PRESS RELEASE) HELSINKI, 10-Oct-2024 — /EuropaWire/ — CapMan Infra has announced a significant investment in the energy landscape of Hamina, Finland, through its CapMan Nordic Infrastructure II fund, which has acquired full ownership of Haminan Kaukolämpö Oy and Haminan Sähköverkko Oy from Haminan Energia. This strategic move aims to enhance the utilization of waste heat within the district heating network, thereby reducing the carbon footprint of Hamina and improving heating availability for new clients.

The acquisition encompasses two subsidiaries of Haminan Energia, which is municipally owned by the City of Hamina. Haminan Kaukolämpö Oy specializes in district heating, supplying thermal energy to local households, businesses, and public entities, while Haminan Sähköverkko Oy manages the electricity distribution grid in the area, serving approximately 8,000 customers in total.

CapMan Infra intends to bolster these companies and advance the energy infrastructure in Hamina. The investment will specifically fund the construction of a new heat pump facility that will harness waste heat from Google’s data center, enabling Haminan Kaukolämpö to deliver emission-free district heating to additional customers and extend its network. This innovative facility is projected to meet around 70-80% of Hamina’s district heating demands, aligning with the city’s goal of achieving carbon neutrality.

“We are thrilled to contribute to the advancement of Hamina’s energy framework. This vibrant city has tremendous growth potential, and we aim to enhance its energy infrastructure, ultimately fostering regional development and increasing its appeal for both residents and industrial investments. Additionally, we are enthusiastic about our role in advancing heat production toward carbon neutrality,” stated Pekko Haaksluoto, Partner at CapMan Infra.

Kimmo Rahkamo, CEO of Hamina Energy, added, “This agreement prioritizes the interests of our customers, staff, stakeholders, and the local community. We are optimistic about the partnership with CapMan Infra, as they are well-positioned to further develop Hamina’s energy infrastructure.”

The transaction is slated for completion by the end of 2024. The newly formed entity will operate as Haminan Energia and will include not only the personnel from the acquired companies but also a majority of Hamina Energia Oy’s workforce, ensuring continuity for customers during the transition.

The CapMan Nordic Infrastructure II fund, classified as an Article 8 fund, adheres to a robust sustainability strategy that aims to drive value through green transitions in its portfolio. To date, the fund has made several investments, including ventures in a data center platform, solar energy company Skarta Energy, and Napier, a leading provider of aquaculture transportation infrastructure.

CapMan Infra is dedicated to being an active and responsible owner, focusing on operational growth and development in infrastructure companies through further investments. With offices in Helsinki and Stockholm, the 14-member team collaborates with asset owners, management, staff, and customers to identify optimal solutions for infrastructure development and expansion.

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

About Haminan Energia

Haminan Energia is a versatile, approachable local energy company with a history spanning over 120 years. The foundation of our operations is formed by our reliable and efficient electricity and district heating networks. We develop sustainable energy solutions for our customers and are steadily progressing towards a cleaner future. We are constantly seeking new ways to produce heat and energy in an environmentally friendly manner. Our roadmap for clean energy production is guiding us towards fully carbon-neutral energy production by 2030. The future is fossil-free.

Media Contact:

Pekko Haaksluoto
Partner, CapMan Infra
Tel. +358 40 584 6031

SOURCE: CapMan