Energy, Estonia, EU – Baltic States, Funds, Good for Business, Investments

"Alongside Infracapital, we have successfully driven Adven's growth through active asset management, with bolt-on acquisitions including the acquisition of E.ON's district heating business in Sweden, and organic growth into new markets, while refocusing its strategy on clean energy solutions to bring positive outcomes for business, people and the planet," David Rees, global co-head of asset management at AMP Capital, said in the press release.

Matthew LeBlanc, chief investment officer for infrastructure investments at J.P. Morgan Asset Management, said the institutional investors advised by J.P. Morgan Asset Management are delighted to invest in Adven, a platform that significantly enhances scale and capability in the region alongside their ownership of Varmevarden.

"Adven has a fantastic track record of growth, leadership in ESG and delivering customer centric solutions, all of which are driving the long-term sustainable energy transition," he said. 

Adven is a leading provider of energy solutions across five Nordic and Baltic countries. The company, which develops its energy infrastructure through a finance, build, own and operate model, currently delivers energy to well over 300 sites corresponding to an installed capacity of approximately 2 gigawatts. Infracapital, the infrastructure equity investment arm of M&G Plc, and AMP Capital have been the owners of Adven since January 2016.