abrdn Core Infrastructure’s Loimua Oy agrees to acquire Pilke Energia

abrdn is pleased to announce that its Finnish district heating and energy services business platform, Loimua Oy (formerly known as Elenia Heat), has agreed to acquire Pilke Energia and its subsidiaries from Lahti Energia.

Pilke Energia owns and operates biomass boilers with a capacity of 48MW across two sites in the municipality of Kärkölä in southern  Finland. The company’s main responsibility is to produce energy for a local wood product company, Koskisen Oy.

abrdn has been actively investing in Finland for over seven years starting with the acquisition of Auris Energiaratkaisut, followed by Riihimäen Kaukolämpö (“RKOY”), Loimua and Outokummun Energia (“OKE”), developing successful partnerships with both public and private sector partners to drive innovation and solutions in the energy sector.

Soti Calochristos, Investment Director at abrdn’s Core Infrastructure Fund and Board Member in Loimua said: “We are delighted that we can support Loimua in its goal of producing renewable energy and to continue to deliver heat services to Koskinen in an environmentally friendly and sustainable manner. Pilke Energia represents a great opportunity for Loimua to continue to grow its energy services business. Investing in the district heating sub sector has formed a key part of our strategy as it can provide the strong stable cashflows that our institutional investors seek. It also underpins a key strategic priority for abrdn which is to grow one of our core capabilities in real assets.”

Matti Tynjälä, CEO, Loimua’s,  added: “Koskisen will be a significant new customer for our industrial-scale energy services business. Renewable energy and its production serve the customer’s needs and the company’s carbon neutrality goals in a great way”.

 

Ends

 

Media enquiries

Debbie Cowe,
Media Relations Manager, abrdn
Debbie.cowe@abrdn.com
+44 (0) 7711 774017

 

Notes to editors

About abrdn

abrdn’s Core Infrastructure team has successfully raised and deployed two infrastructure funds totalling over €2.3 billion and is currently raising its third infrastructure fund, Aberdeen Standard Core Infrastructure III, which reached its first close in Q1 2022 targeting €1 billion to invest in the pan-European infrastructure mid-market.

At abrdn, we enable our clients to plan, save and invest for their futures.

 We structure our business into three areas – and together they reflect our focus on enabling our clients to be better investors:

• Investments: We work with clients to create solutions across asset classes, regions and markets globally – combining multi-layered research and market insights with technology and diverse thinking.
• Adviser: We offer market-leading platform technology and tools that enable UK wealth managers and financial advisers to create more opportunity for their business and their clients.
• Personal: We help people throughout the UK plan for their financial futures – through our financial planning business and our digital investing services.

Across our investments, adviser and personal businesses we manage and administer £542 billion of assets for our clients, and abrdn plc has over 1 million shareholders. (Figures as at 31 December 2021)

Our investments are built on an insight strength that comes from multi-layered research and a large global footprint. Our teams collaborate across multiple capabilities, to create forward-thinking solutions that aim to meet our clients’ needs and deliver more sustainable outcomes. Our investments business manages £464 billion on behalf of individuals, governments, pension funds, insurers, companies, charities and foundations (as at 31 December 2021) – with support and expertise from 800 investment specialists in over 30 locations.

abrdn is the single global brand for all areas of our business. In July 2021 our plc listing became abrdn plc. In September our investments business, formerly Aberdeen Standard Investments, became abrdn.

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 About Loimua

The abrdn Core Infrastructure team, together with its partners DIF Capital Partners and Local Pensions Partnership Investments, acquired Loimua in July 2019. Loimua is the second largest private supplier of district heating in Finland, providing environmentally sustainable heating to residential, commercial and public sector customers. The company owns and operates 640MW of heat production capacity across 16 networks, covering circa 500 kilometers and circa 4,600 supply points (85,000 end-users).

 

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