Consortium set to buy Finnish district heating supplier

Finnish district heating firm Elenia Lämpö is to be sold to a consortium.

Elenia Lämpö, which serves around 85,000 customers through 16 local systems, represents Finland’s ninth-largest district heating network and around 10 per cent of power grid operator Elenia’s business.

Along with Elenia, Elenia Lämpö is to be sold for an undisclosed price to a consortium composed of Allianz Capital Partners (ACP), Macquarie Infrastructure and Real Assets (MIRA) and Valtion Eläkerahasto (VER), Finland’s state pension fund.  

Under the terms of the sale, ACP and MIRA will each hold a 45 per cent stake in the two firms, while VER will hold 10 per cent.

The sale is expected to be completed in early 2018.

Elenia supplies heat and power to residential and commercial customers in more than 100 local districts in Finland’s Kanta-Häme and Päijät-Häme, Pirkanmaa, Central Finland and Ostrobothnia regions.  

It is currently owned by GS Infrastructure Partners, 3i Infrastructure, and Ilmarinen Mutual Pension Insurance Company.

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