In a move to expand its Scandinavian operations, Sweden-headed district heating provider and pellet producer Solör Bioenergi Group has announced the acquisition of Pemco Energi from the Norwegian investment company Pemco. The value of the transaction has not been disclosed.
Solör Bioenergi is a leading bioenergy company that provides essential wood-based energy services primarily in Sweden operating across the entire value chain from procurement, production and distribution to sale of energy in form of district heating, industrial steam, electricity and various biomass products.
Demand for renewable energy will increase over the next years. Solör Bioenergi is further strengthening its position in a market we really believe in with the acquisition of Pemco Energi, said Martinus Brandal, CEO of Solör Bioenergi in a statement.
Within the Group’s operations, there are 52 energy plants, three recycling terminals, two pellet plants and one briquette plant. According to a statement March 2, the acquisition demonstrates the company’s ambition to expand its operations in Sweden and Norway.
We have followed the development of Pemco Energi and are impressed by the position the company managed to obtain within wood‐based bioenergy in Sweden and Norway. Moreover, Pemco’s value proposition to its customers is highly complementary to Solör’s business model in district heating and this will lead to numerous positive effects for the combined operation, said Brandal.
Pemco Energi owns and operates 82 local heat plants in Norway and Sweden and produces wood pellets at two facilities in Säffle, Sweden and Brumunddal, Norway.
Håkon Knappskog, who has led Pemco Energi since 2012 believes that the company will continue its growth with the new owners.
The company has a robust position today based on its highly skilled employees, the ambition to perform and the ability to deliver results. This makes me believe in a bright future for the company, said Knappskog.