Infranode invests in solar energy and geothermal heat pump energy through long-term partnership with Eneo

Infranode I has completed its second investment through an agreement with Eneo Solutions AB (“Eneo”) for an investment in distributed solar energy and geothermal heat pump energy assets. In addition to the investment in a portfolio of existing assets, Infranode and Eneo has entered into a partnership agreement to jointly develop and expand the Eneo business over the coming years.

“We are very pleased with our investment in a portfolio of renewable energy assets with a high sustainability factor and stable cash yield returns, and look forward to investing an additional SEK 500 million as the Eneo team develops new assets for its clients.” says Philip Ajina, Founding Partner of Infranode

Eneo enables real estate owners to take part of the ongoing revolution within distributed energy. Eneo helps its clients with the full scope, from the development of a strategy to subscribing to solar and geothermal heat pump energy as an uncomplicated service. Eneo was founded in 2013 and is partly owned by the founders.

“Both solar and geothermal heat pump energy generation are by now proven technologies. The investment is complementary to our existing and coming investments in district heating.”  says Christian Doglia, Founding Partner of Infranode

http://www.eneosolutions.se

“Our clients are real estate owners and corporates that want to take a leading position in the transition to a fully renewable energy system and inspire others to take actions. Through the partnership with Infranode, Eneo will continue to expand in the Swedish market and help more to gain access to solar and geothermal heat pump energy in an efficient and responsible manner.” says Wilhelm Löwenhielm, CEO and co-founder of Eneo

Infranode was advised by Roschier, Deloitte and Sweco.

 

FOR FURTHER INFORMATION CONTACT:

Philip Ajina, Founding Partner, Infranode

philip(at)infranode.se

+46 70 755 99 78

Christian Doglia, Founding Partner, Infranode

christian(at)infranode.se

+46 73 320 74 87

 

ABOUT INFRANODE

Infranode is a Sweden based investment platform founded in 2013 with focus on long-term investments in infrastructure in the Nordics. Infranode has a capital base of ca SEK 3.55 billion from investors including EIB, Swedish insurance company and pension investment manager Folksam, Swedish municipal sector insurance and pension company KPA Pension, IMAS foundation as well as Finnish non-life, life, and pension insurance company LocalTapiola. Infranode was founded in partnership with Areim, an established Sweden based real estate investment manager and investment advisor (www.areim.se)

Infranode adds Finnish Institution to its investor base

Infranode solidifies its Finnish presence with the addition of LocalTapiola to its investor base and a planned opening of its Helsinki office during spring 2017

Infranode is pleased to announce that LocalTapiola General Mutual Life Insurance Company and LocalTapiola Mutual Life Insurance Company have joined the IMAS Foundation, Folksam, KPA and the European Investment Bank (EIB) in the Infranode I investment platform.

LocalTapiola adds to Infranode’s second closing in February 2017 bringing the total capital raised to date to SEK 3.55bn and moving Infranode a step closer to its Final Closing target of SEK 4bn.

“We are very excited to add our first Finnish institution to our investor base as we consider Finland and the Finnish infrastructure sector a critical market for Infranode. Infranode stays on its path to continuously strengthen its local presence in all the Nordic countries, provide superior local knowledge to its investors and be a sustainable, long-term, local partner to the public sector and other infrastructure market sponsors and industrials”, says Infranode co-founder and partner Christian Doglia.

The Nordic infrastructure market has a significant investment need that is expected to reach EUR 200bn over the coming 10 years. Currently, Finland’s infrastructure investment backlog is EUR 36-56bn according to ROTI 2017 report.

“In Finland, Infranode aims to become the preferred ownership partner for public and private small and mid-sized infrastructure assets. We want to bridge the gap between the appetite for essential infrastructure from the Nordic institutional investors and the need for public and private sectors to find professional, long-term ownership partners with capital to finance the present investment need into infrastructure”, says Aleksi Rajakaski, Director and Country Lead for Finland at Infranode.

Infranode aims to reach Final Closing of its platform later in 2017 still targeting SEK 4bn. Infranode is also planning the opening of an office in Helsinki during the spring of this year.

About the investors LocalTapiola is a Finnish non-life, life, and pension insurance company and provider of investment and saving services with approximately EUR 9.7bn in assets under management. In addition to LocalTapiola General and the regional companies, the Group comprises of LocalTapiola Life, LocalTapiola Asset Management and LocalTapiola Real Estate Asset Management. LocalTapiola’s network of regional companies consists of 20 regional mutual insurance companies. LocalTapiola employs approximately 3,400 people. The number of owner-customers is nearly 1.6 million.

Folksam is a Swedish insurance and pensions savings company and one of Sweden’s largest investment managers with a total SEK 400bn in assets under management.  KPA Pension is a subsidiary to Folksam and the leading pensions company for the local government sector in Sweden.  KPA Pension works with pension insurance, capital management and pension’s administration.  Folksam holds 60 per cent of the shares in KPA pension and Sveriges Kommuner och Landsting (SKL) holds 40 per cent of the shares.

The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2016 alone, the Bank made available nearly EUR 1.7bn in loans for Swedish projects in various sectors, including urban development, industry and research.

IMAS foundation is a Dutch foundation and a sister foundation to the INGKA Foundation. INGKA Foundation is the owner of the INGKA Group, which owns and operates the majority of IKEA stores worldwide.

About Infranode Infranode is a long-term Nordic infrastructure investment company founded in 2013. We want to become the leading sustainable business partner for the public sector in revitalizing and developing Nordic infrastructure. Infranode is an affiliate to Areim, an established Stockholm-based real estate investment manager and investment advisor. Areim has a 10-year and SEK 50bn real estate investment management track record and currently manages three value-add real estate funds with a reputable local and international institutional investor base. Together, Areim and Infranode offer their investors real asset investments in the Nordics, a rapidly growing asset class.

About the Infranode I investment platform

  • Built upon a select number of credible long-term investors sharing Infranode’s vision.
  • 25 years investment maturity.
  • Focus on cash yield and low operating risk.
  • Focus on Nordic infrastructure assets such as energy and other utilities, telecom, transportation and social infrastructure.
  • Buy and hold approach in contrast to private equity infrastructure funds with a shorter-term investment horizon.
  • SEK 3.55bn currently with target SEK 4bn.
  • Investors are LocalTapiola, Folksam, KPA Pension, European Investment Bank, and the IMAS Foundation.
  • Small and Mid-cap focus.
  • Ability to invest multiples of committed capital through co-invest programme.
  • Transparent Swedish legal structure.
  • Flexible investment offer focusing on building partnerships with the private and public sector.

For further information:

Aleksi Rajakaski, Director, Country Lead Finland

aleksi.rajakaski(at)infranode.se

+358 40 511 54 73

+46 72 575 18 32

Christian Doglia, Founding Partner

christian(at)infranode.se

+46 73 320 74 87