In Finland, Adven Oy part of Adven Group, a leading provider of energy and water solutions in the Nordic and Baltic countries, has announced that it has acquired the entire share capital of municipal district heat company Kaskisten Energia Oy from the City of Kaskinen and will continue the production and development of district heating in Kaskinen.
The transaction, the value of which was not disclosed, was completed on February 26, 2025. Adven’s goal is to develop Kaskinen’s district heating toward more sustainable energy production and ensure the availability of competitively priced district heating in the area.
Significant investments are planned for the Kaskinen district heating network in the coming years, including boiler refurbishment, flue gas purification, and automation improvements.
As part of its financial balancing efforts, the City of Kaskinen investigated various alternatives for district heating production. The city initiated discussions with Adven, and after negotiations, the Kaskinen City Council decided in December 2024 to sell its district heating company to Adven.
Kaskisten Energia Oy needs broader shoulders to ensure district heating production for the residents and businesses of Kaskinen. This transaction secures the expertise and financial resources needed for future investments, commented Markku Lumio, Mayor of Kaskinen.
Adven currently provides district heating in more than 20 locations across Finland. In addition to offering energy services to industries and large properties, district heating is one of the company’s core businesses.
Kaskisten Energia will become an important part of Adven’s district heating services.
We are pleased that the City of Kaskinen has chosen Adven to develop and strengthen the district heating supply in the area. We bring with us strong expertise and experience in district heating production, which we have accumulated over the years in multiple locations. Our goal is to actively develop district heating production, said Jaakko Siirtola from Adven’s Mergers and Acquisitions (M&A) team.
As the first improvement measure, the Kaskisten Energia district heating plant will be integrated into Adven’s 24/7 operational center and remote-control system to ensure the plant’s reliability and operational security.
The development of district heating also creates opportunities for collaboration with local industries, enabling the efficient utilization of industrial waste heat within the district heating network.
We work closely with the city and our partners to ensure reliable and efficient heat production in Kaskinen. With our extensive experience in similar facilities, we can contribute to plant operations from day one. At the same time, we are committed to developing our operations sustainably over the long term, said Roope Kasvi, Production Manager at Adven.
The change of ownership will not result in any changes to the contracts of Kaskinen Energia’s district heating customers.
Kaskisten Energia’s customers will gain access to Adven’s digital services.
