Etelä-Savon Energia Acquisition

EvoInfra acted as model auditor to abrdn on their acquisition of a 49% interest in Etelä-Savon Energia Oy (“the “Company”), a regional energy business based in the City of Mikkeli in Eastern Finland.

Etelä-Savon Energia was formed in 1900 and at the end of 2022 it had approximately 2,500 district heating and 25,000 electricity distribution connections. The Company produces, sells and distributes, heat and electricity in an efficient and reliable manner to its customers in the Mikkeli region, whilst playing a leading role in the reduction of emissions in the wider region. The Company also has an electricity distribution network with a total length of approx.1,000km and a district heating network with a total length of approx 210km with the heat sourced locally and from environmentally friendly fuel sources.

The Company and its management team will benefit from having an aligned shareholder group bringing together an experienced partner with deep infrastructure knowledge and continued local support from the City of Mikkeli. The shareholder group shares a joint objective of (i) supporting the energy transition in the region through the production of renewable energy and (ii) ensuring sustainable growth of the Company through the supply of safe, local and cost-effective heat and electricity solutions.