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Elenia is the owner and operator of the second largest electricity distribution business in Finland and a complementary district heating business. The company’s electricity distribution network is c 69,000 km in length and serves c 420,000 residential, industrial and business customers, with a market share of approximately 12%. Elenia Heat owns and operates 16 local district heating networks across Finland with a total network length of almost 500 km serving c 85,000 end-users.
3i Infrastructure acquired its interest in Elenia in January 2012 as part of a consortium with GS Infrastructure Partners and Ilmarinen Mutual Pension Insurance Company.
In December 2017, 3i Infrastructure sold its stake in Elenia to a consortium comprising Allianz, Macquarie Infrastructure and Real Assets and Valtion Eläkerahasto, the State Pension Fund of Finland, generating gross proceeds of approximately £725 million.
“I would like to thank 3i, GS Infrastructure Partners and Ilmarinen for their support over the last six years. Their investment, guidance, expertise and commitment have enabled us to grow and improve both operationally, for the benefit of our customers, and financially.” Tapani Liuhala, Chief Executive, Elenia