The Sweden based infrastructure investment platform Infranode I has signed an investment in Vasa Värme Holding AB (“Vasa Värme”), a Swedish district heating focused energy company, by way of a subscription to a new preferred share issuance of Vasa Värme. Infranode and Vasa Värme have also signed a partnership agreement to jointly develop and expand the Vasa Värme district heating activities in Sweden over the coming years.
“We are very pleased with our first investment in Vasa Värme and excited about the future opportunities that the Vasa Värme team will continue to bring to the partnership through their dedicated focus and extensive expertise in the district heating sector. We have structured the investment to deliver stable and attractive risk-adjusted returns with strong inflation-linkage.” says Christian Doglia, Founding Partner of Infranode.
Vasa Värme provides district heating services to homes, industries and municipalities in Sweden. The ambition of Vasa Värme is to operate and develop district heating in an environmentally responsible way by providing power and heating through renewable energy sources. Vasa Värme employs a team with a long experience in district heating and cogeneration with strong attention to the needs of Swedish municipalities.
“District heating is an important part in the sustainable development of a municipality, and we constantly strive to adapt and develop our operations in cooperation with local authorities, residents and businesses where we operate. Our partnership with Infranode adds even further local focus and strength to our company, in adding a Swedish long-term investor in infrastructure.” says Lars Strömberg, CEO of Vasa Värme.
Infranode was advised by Lindahl (Legal), EY (Financial and Tax) and Sweco (Commercial, Technical and Environmental).
Vasa Värme was advised by DnB Markets Investment Banking Division.
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Infranode was established as a partnership with AREIM (www.areim.com) during 2013 and reached its first closing in September 2014 with SEK 1.45bn in commitments. Investments are carried out in infrastructure assets with essential characteristics suitable for a buy and hold strategy with a 20+ year investment horizon. The primary focus is the Nordics while opportunities in the rest of Europe will be considered in partnership with leading investors in such jurisdictions. Infranode´s vision is to be a leading, long-term infrastructure investment platform in the Nordics, providing a cost-efficient way for institutional investors to access essential infrastructure assets while offering the public sector and other infrastructure stakeholders a sustainable business partner.