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Elenia Oy to sell its district heating business to SL Capital Infrastructure II SCSP, DIF Infrastructure V Coöperatief U.A. and LPPI Infrastructure Investments LP

The parent company of the Elenia Group, Elenia Oy, has agreed to sell its district heating business, Elenia Lämpö Oy (Elenia Heat), to SL Capital Infrastructure II SCSP, DIF Infrastructure V Coöperatief U.A. and LPPI Infrastructure Investments LP.

Elenia Heat is the owner and operator of 16 local district heating networks across Finland with a total network length of almost 500 km serving 85,000 end-users.

The sale of Elenia Heat enables the Elenia Group to focus on the development of security of electricity distribution, smart grids and multifunctional services to its customers. In addition to network investment, the Elenia Group will also use proceeds from the sale to deleverage.

More information:
CEO Tapani Liuhala, Elenia Oy, tel. +358 40 033 1130

 

Elenia Group will consist of the electricity distribution company Elenia Oy, services company Elenia Palvelut Oy and Elenia Finance Oyj after the sale of Elenia Heat. Elenia’s electricity distribution area is in the centre of Finland, covering more than 100 municipalities. Elenia provides services in close cooperation with local partner companies.

Aberdeen Standard Investments, ASI, is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. With over 1,000 investment professionals we manage £505 billion (US$643 billion, as at 31 December 2018) of assets worldwide.
• We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
• We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.
ASI is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies. Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.

DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:
• DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
• DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets and companies in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.
DIF has over 125 professionals in nine offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto.

Local Pensions Partnership Investments Ltd, LPPI, is an FCA authorised investment manager for UK local government pension funds.  LPPI was established in 2016 to enable public sector schemes to pool resources and improve management of their assets for the benefit of their members and employers. LPPI manages approximately £17 billion in assets, allocated across numerous asset classes, on behalf of three pension funds: Lancashire County Pension Fund, London Pensions Fund Authority and Royal County of Berkshire Pension Fund. The infrastructure commitments are managed through the fund LPPI Infrastructure Investments LP, launched in June 2017 which, including infrastructure assets held on individual clients’ balance sheets, has assets and commitments around £1.8 billion. LPPI’s infrastructure investment team seeks to gain cost-effective, diversified exposure to global infrastructure assets, predominately in the UK, Europe and North America.

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