Magnusson assisted St1 Lähienergia Oy in the sale of ground source heat plants and concluding the cooperation agreement

Magnusson advised St1 Lähienergia Oy in an asset deal regarding the sale of its ground source heat plant portfolio and concluding the cooperation agreement with CapMan Infra. The goal of the arrangement is to further speed up ground source heat investments and decrease emissions in Finland.

The ground source heat plant portfolio acquired in the asset deal provides sustainable local energy to approximately 130 properties. In accordance with the agreed co-operation, St1 Lähienergia Oy will continue to serve the existing clients by continuing to operate the ground source heat plants.

As part of the agreed co-operation between the parties CapMan Infra will finance new ground source heat plants, sold and built by St1, for apartment buildings and commercial and public properties throughout Finland.

St1 Lähienergia Oy belongs to the Nordic energy group St1 Nordic Oy which employs around 1000 people. The Group researches and develops environmentally sustainable and economically efficient energy solutions and the Group’s vision is to be the leading producer and seller of CO2-aware energy.

CapMan is a leading Nordic private asset expert with an active approach to value creation that has over EUR 4 billion in assets under its management. CapMan employs around 150 professionals in several countries.

The asset deal and the cooperation agreement were completed in November 2021. The arrangement was implemented through Loviisan Lämpö, the portfolio company of the CapMan Nordic Infrastructure I fund.

Magnusson’s team included Associate Lilli Parbo and Partners Tomi Merenheimo and Jukka Blomberg.