Haminan Energia sells subsidiaries to CapMan Infra to bolster energy infrastructure in Finland

Haminan Energia has announced the sale of two subsidiaries to a private equity fund managed by CapMan Infra. According to CapMan’s website, the firm is a specialist in the Nordic private equity market. The transaction is expected to be completed by the end of 2024. The companies being sold are Haminan Kaukolämpö and Haminan Sähköverkko. The new company will operate under the Haminan Energia name and branding.

Haminan Energia has faced financial difficulties in recent years, and discussions regarding the sale of its subsidiaries have been ongoing since at least the summer of last year. The company reported a loss of €3.3 million last year, largely due to high costs associated with the Haminan LNG terminal. Staff from both subsidiaries will retain their current positions, and a significant portion of Haminan Energia’s employees, assets, and properties will be transferred to the new entity.

According to Haminan Energia, the sale will enable a significant investment in utilizing waste heat within the Haminan district heating network. Customers of the company are not expected to see any changes as a result of the transaction. Kimmo Rahkamo, CEO of Haminan Energia, expressed satisfaction with the outcome, stating that CapMan Infra will be an excellent owner to develop the region’s energy infrastructure.

Antti Pakkanen, Chair of the City Council of Hamina, emphasized the importance of moving forward with energy project investments, given the city’s challenging financial situation, and highlighted the need for future energy investments to proceed without city funding.