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CapMan Infra’s portfolio company Nydalen Energi acquires Vestby district heating from Vestby municipality


CapMan Infra’s portfolio company Nydalen Energi acquires Vestby district heating from Vestby municipality

CapMan Infra’s portfolio company Nydalen Energi and Vestby municipality have signed an agreement concerning the acquisition of Vestby municipality’s district heating business on April 25th, 2022. The heating network is located in Vestby Municipality, just under 30 minutes southeast of Oslo.

“We welcome all of Vestby’s district heating customers to Nydalen Energi. We continuously work to expand and improve our business in and around Nydalen and to carry out interesting acquisitions in Eastern Norway as well as the rest of the country. Vestby Fjernvarme is located only half an hour southeast of Nydalen and holds exciting potential, which we look forward to developing and realizing further together with Vestby municipality. We thank Vestby municipality for good collaboration in the process. Our plan is to expand both the concession area and production capacity as well as offer environmentally friendly heating to more customers,” says Kim Lande, CEO of Nydalen Energi.

“We will continue to operate the facilities and take care of our customers in Vestby through our local presence, building on the good work that Vestby municipality and its employees have already undertaken. In addition to this we will further develop the business by utilizing the expertise of Nydalen Energi and our owners. Both existing and new heating customers will be well taken care of also in the future,” continues Lande.

“Since 2008, we have worked to develop the district heating in Vestby municipality through various ownership solutions and structures. We are now happy to be able to pass on the baton to Nydalen Energi. Since last summer, we have held a dialogue with several stakeholders and are very pleased with our process with Nydalen Energi. We have good faith in that Nydalen Energi will do a good job of developing and operating Vestby district heating going forward,” says Sjur Authen, Councilor in Vestby Municipality.

“CapMan Infra is very happy to support Nydalen Energi in the acquisition of Vestby district heating. Inorganic growth remains an important part of our investment strategy and Vestby district heating offers a good fit with Nydalen Energi’s existing operations in Oslo”, adds Daniel Joelsson, Investment Manager at CapMan Infra.

For more information, please contact:

Daniel Joelsson, Investment Manager CapMan Infra, +46 72 150 29 41

Nydalen Energi is based in Oslo, Norway, and has since 2003 delivered environmentally friendly district heating and district cooling to its customers in the Nydalen area. Nydalen Energi’s production of heat and cooling utilises a high share of heat pumps, pellets andgeothermal energy. The use of heat pumps enables recovery and reuse of local heating and cooling surplus as well as the collection of heating and cooling from the environment. Nydalen Energi’s green production footprint of using 99% renewable energy sources also contributes significantly to local power savings as well as reduced power load in the electricity grid.