In Sweden, renewable energy provider Solör Bioenergy Group has announced that it has acquired compatriot Vasa Värme that operates several renewable district heating plants in Sweden. The value of the transaction has not been disclosed.
Founded in 2014, Vasa Värme produces and distributes around 140 GWh per annum of biomass-based district heat in five locations – Kalix, Edsbyn, Alfta, Malmköping, and Krokek – with a sixth heat plant facility in Ekerö, outside Stockholm, under construction and scheduled to be operational in 2021.
With this acquisition, we are executing our defined growth strategy within renewable district heating in the Nordics. The acquisition is the next step in accelerating our growth strategy as well as strengthening our position as a leading provider of district heating in this market. Going forward, we are operating in 81 municipalities in Sweden and 17 municipalities in Norway, and we deliver safe and clean energy to the highest ESG standards. We will continue our M&A strategy with small and mid-size acquisitions, said Martinus Brandal, Chairman, and CEO of Solör Bioenergy Group.
