09/12/2025
Skarta Energy’s solar park in Utajärvi. Finland. Photo: Aki Kolehmainen
At CapMan, sustainability is a cornerstone of long-term value creation. Through active ownership, we support our portfolio companies in strengthening their operations, building resilience, and generating positive real-world impact. Within the CapMan Infra portfolio, Skarta Energy, a renewable energy developer and producer, stands out as a leader in integrating sustainability into every stage of its business.
Skarta’s achievements speak for themselves: In 2025, the company earned a five-star rating for the second consecutive year in the GRESB sustainability benchmark, improving its score by thirteen points to an impressive 97/100. This strong performance reflects significant progress in ESG policy implementation and transparency. It also shows how sustainability is embedded throughout the business and project lifecycles, from assessments and policy development to planning, execution, and continuous stakeholder engagement.
Integrating sustainability from the start
Skarta embeds sustainability with ambition from the outset. In 2024, with support from CapMan, Skarta achieved EU Taxonomy alignment with climate change mitigation criteria. In practice, aligning with the EU Taxonomy means that in addition to Skarta contributing significantly to climate change mitigation, it also ensures compliance with sustainability practices, such as minimum safeguards on human rights. In line with EU Taxonomy requirements, Skarta has conducted climate risk assessments, follows practices supporting circular economy, and conducts Environmental Impact Assessments and implements necessary measures for protecting environment.
At Skarta, environmental and biodiversity assessments are embedded in every renewable energy project’s development process. These assessments ensure projects meet regulatory standards while respecting local ecosystems. Depending on the specific site, evaluations can cover landscape and soil conditions, water management, vegetation, birdlife, and the presence of protected species. When sensitive habitats are identified, project plans are adjusted in cooperation with environmental authorities.
At Skarta, environmental and biodiversity assessments are embedded in every renewable energy project’s development process. These assessments ensure projects meet regulatory standards while respecting local ecosystems.
One example of this approach is the Tohmajärvi Koirivaara solar park, where surveys identified a significant population of moor frogs (viitasammakko in Finnish). Skarta worked closely with the regional environmental authority to develop a mitigation plan, which included maintaining safe distances from construction areas and creating new ponds to support breeding habitats.
From minimising impacts to creating positive contributions
Solar power is among the cleanest large-scale energy sources. While electricity generation using solar photovoltaic technology contributes significantly to climate mitigation, emissions do occur, such as during the manufacturing and transport of components. By systematically tracking Scope 1–3 greenhouse gas emissions, publishing transparent data, setting emission reduction targets, and identifying areas for emission reductions, Skarta is well placed to continue minimising negative impacts.
In 2024, Skarta participated in CapMan’s Nature Positive pilot study, which identified nature impacts and dependencies across the company’s own operations and upstream value chain. In solar energy development, land use change is often the most significant factor affecting local ecosystems. This is where following mitigation hierarchy for land use decisions and prioritising already constructed land can help minimise negative impacts on nature caused by land use change. Practical actions such as integrating ecological corridors in project design or planting vegetation can help to enhance local biodiversity.
Solar energy development not only helps to reduce emissions but also creates positive outcomes for society. Projects contribute to local economies by creating jobs and increasing tax income, whereas making locally produced renewable energy available can attract further investment to the region and support long-term viability. Achieving these benefits requires collaboration with different stakeholders, including municipalities, local companies, and landowners; continuous engagement with the community and key stakeholders is essential throughout the process.
Driving sustainable value creation
As an active owner, CapMan encourages its portfolio companies to move beyond compliance toward generating measurable, positive outcomes for society and the environment.
Skarta’s approach demonstrates how CapMan’s sustainability priorities translate into tangible actions across the investment lifecycle:
- Climate action: Accelerating the clean energy transition while measuring and reducing emissions
- Biodiversity and nature: Ensuring projects assess possible impacts on nature and identify ways to protect and restore ecosystems
- Responsible business practices: Promoting transparency, sustainable operations, and actively engaging with stakeholders.
Skarta’s journey shows that sustainability is not an afterthought. It is embedded in decision-making, from planning to execution. By combining climate action, biodiversity protection, and responsible business practices, Skarta demonstrates how infrastructure investments can deliver lasting value for both society and the environment.