BaltCap Infrastructure Fund signs agreement on sale of biomass cogeneration in Riga to Northern European heating company Gren BaltCap Infrastructure Fund (BInF) has signed an agreement to sell Energia Verde – a company operating a biomass cogeneration plant (BKS) in the Riga region – to the Northern European green energy company Gren. The transaction is subject to the normal conditions for concluding transactions.
In 2018, BinF acquired a majority stake in Energia Verde, about a year after the power plant became operational. The wood chip cogeneration plant is equipped with an 18 MW HoSt Bio-Energy unit, a high-pressure water pipe steam boiler and a 3.98 MW steam turbine. The station generates electricity and provides heat to Riga’s district heating system.
“For the last three years, Energia Verde has been the cheapest heat producer in Riga’s district heating system. This was an extremely important factor in our social responsibility program, in addition to the impact of this asset on CO2 emissions. Energia Verde’s heat generation is also available thanks to ongoing regulatory support in the renewable energy sector, especially in corporate-owned heat and electricity generation, ”says Šarūnas Stepukonis, a partner at the BaltCap Infrastructure Fund.
Gren focuses on developing and providing sustainable energy solutions, mainly district heating, the use of renewable energy and local resources to meet the needs of local consumers, and providing everyday comfort while having a positive impact on the environment. The acquisition of Energia Verde is part of Gren’s growth strategy through new environmentally friendly projects and targeted strategic acquisitions. Other conversion initiatives will include the expansion of Gren’s heating networks to develop new heating and cooling solutions for industrial and commercial consumers.
About BaltCap
BaltCap is the largest and most experienced private equity investor in the Baltics, including buyout, growth, risk and infrastructure investments. Since 1995, BaltCap has invested in more than 100 companies in various industries and raised a total capital of more than 700 million euros. BaltCap is a team of 35 investment professionals working in Tallinn, Riga, Vilnius, Warsaw, Helsinki and Stockholm. In July 2017, BaltCap established the BaltCap Infrastructure Fund (BInF).
Par Gren
Gren, a green energy company in Northern Europe, focuses on developing and providing sustainable energy solutions, mainly district heating, to meet the day-to-day needs of local communities while benefiting the environment. Gren resumed operations on behalf of its customers with Partners Group, the world’s leading private market firm, following the acquisition of Fortum’s heating and cooling companies in the Baltics in 2021.
Par Partners Group
Partners Group is a leading global private market firm. Since 1996, the company has invested more than $ 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients worldwide. Partners Group is looking for opportunities to earn good income by using thematic growth trends and transforming attractive companies and assets into market leaders. The company is a diligent, responsible investor and aims to generate sustainable profits that benefit all stakeholders. With more than $ 109 billion in assets under management as of December 31, 2020, Partners Group offers innovative customer solutions to institutional investors, sovereign wealth funds, family institutions and individuals worldwide. The company employs more than 1,500 different professionals in 20 offices and has regional headquarters in Baar-Zug, Switzerland, Denver, the United States and Singapore. Since 2006, the company has been listed on the SIX Swiss Exchange (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us LinkedIn, or Twitter.
BaltCap Infrastructure Fund
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