Polhem Infra and Nordic Infrastructure acquire additional stake in Solör Bioenergy Group

Existing shareholders, the Infrastructure investor Polhem Infra and the majority shareholder Nordic Infrastructure, acquires all Solör Bioenergy Group shares held by Highview Finance Holding Company DAC.

Solör Bioenergy Group announced today that Polhem Infra, wholly owned by the Swedish State Pension Funds AP1, AP3 and AP4 and Nordic Infrastructure, the original Solör Bioenergy Group founders holding company, have acquired 21.05% of the shares in Solör Bioenergy Group from the existing shareholder Highview Finance Holding Company DAC.

After this acquisition, Polhem Infra holds 40% and Nordic Infrastructure holds 60% of the shares in Solör Bioenergy Group.
“Solör Bioenergy Group is a leading wood-based district heating company with focus on the highest ESG standards. We are executing our growth strategy and will continue to be ambitious and action oriented while we continue to serve as an active and responsible partner to our clients,” says Martinus Brandal, Chairman & CEO of Solör Bioenergy.

“Nordic Infrastructure is a long-term owner, and we see a further growth potential in the Nordic market, leading to the increase of our shareholding,” adds Brandal.

The investment in Solör Bioenergy Group was the first for Polhem Infra after its foundation 2019. “The Group has a proven track record as an industry consolidator with several successful transactions since Polhem Infra ́s initial investment. Therefore, Polhem Infra took this opportunity to acquire additional shares, as we view Solör as an important and long- term investment. Polhem Infra will continue to focus on further enhancing the company’s position as a sustainable and responsible provider of district heating to its customers and society”, says Karin Karlström, acting CEO of Polhem Infra.

The parties have agreed not to disclose the purchase price.

For more information, contact:
Martinus Brandal
Chairman & CEO, Solör Bioenergy Group
+47 916 30 060
martinus.brandal@solorbioenergi.com

Oscar Lundquist Investments, Polhem Infra
+46 73 428 01 60
oscar.lundqvist@polheminfra.se

Polhem Infra
Polhem Infra invests in and manages infrastructure assets. The company was founded 2019 and is jointly owned by the Swedish state pension funds AP1, AP3 and AP4. The company focuses on direct investments in non-listed Swedish infrastructure companies in the private and public sector. The portfolio companies’ business shall provide essential public services and assets as for example renewable energy production, energy storage, energy distribution and digital infrastructure. Polhem Infra ́s goal is to become a preferred partner for both public and private players that invest in and manage infrastructure assets with focus on sustainable development – socially, environmentally and economically.

eSolör Bioenergy Group

Solör Bioenergy Group provides essential energy services in Sweden, Norway and Poland. The Group produces wood-based bioenergy for the public and private sector including private households, municipalities, industrial customers and local/regional governments. The annual energy delivery amounts to approximately 3.0 TWh and the Group has approximately 10,000 customers and the equivalent of 235 000 users. The head office is located in Stockholm, Sweden. Read more about Solör Bioenergy Group at www.solorbioenergi.com.

Solör Bioenergy Group – New Financing

Solör Bioenergy completes its new Group financing. The new finance structure consists of a syndicate of 8 Nordic and international banks to further strengthen the Group’s growth strategy.

Solör Bioenergy Group announced today that it completed a refinancing of its existing facilities. The financing structure includes a Senior Facility as well as a Junior Facility and includes a substantial Capex Facility as well as a Revolving Credit. This will contribute to the Groups growth strategy going forward.

“With this refinancing, we have secured access to liquidity for our growth and M&A strategy within district heating in the Nordics”, says Martinus Brandal, Chairman & CEO of Solör Bioenergy. “With this financial power, we will be able to further drive our growth strategy as well as strengthening our position as a leading provider of district heating”, adds Brandal.

“We own and operate energy plants in 84 municipalities in Sweden and 18 municipalities in Norway, and we deliver safe and clean renewable energy to the highest ESG standards”, says Brandal
DNB Markets acted as Sole Financial Advisor on the refinancing.

For more information, contact:
Martinus Brandal
Chairman & CEO, Solör Bioenergy Group +47 916 30 060

Florian Raitner
CFO, Solör Bioenergy Group +41 786 79 8844

Stockholm, December 17th, 2021

Solör Bioenergy Group
Solör Bioenergy Group provides essential energy services in Sweden, Norway and Poland. The Group produces wood-based bioenergy for the public and private sector including private households, municipalities, industrial customers and local/regional governments. The annual energy delivery amounts to approximately 3.0 TWh and the Group has approximately 10,000 customers and the equivalent of 235 000 users. The head office is located in Stockholm, Sweden. Read more about Solör Bioenergy Group at www.solorbioenergi.com.

Solör Bioenergy Group completes capital increase of SEK 1 000 million

Solör Bioenergy Group announced today that it has completed a capital increase of SEK 1 000 million. Participating shareholders were Nordic Infrastructure and Polhem Infra.

To further accelerate the Group ́s growth strategy, Solör Bioenergy Group has issued new shares for SEK 1 000 million. The issue share price was 175 SEK/share.

After the capital increase, the shareholdings are:

For further information, contact:
Florian Raitner, CFO, Solör Bioenergy Group, +41 786 79 8844
Anders Pettersson, Managing Director & COO Solör Bioenergy Group, +46 70 491 5595

Solör Bioenergy Group
Solör Bioenergy Group, is a leading player in renewable energy based on wood fuels with over 200,000 users every day. The company is located at 182 sites, primarily in Sweden and Norway, where they produce and distribute district heating, steam and electricity to homes, companies, public enterprises and industries. In total, Solör is active in 82 municipalities in Sweden. The business also includes energy recovery of impregnated wood and production of biofuel. By making use of the forest’s resources, Solör wants to make way for a sustainable society with reduced carbon dioxide emissions.

Solör Bioenergy Group successfully acquire District Heating business from Veolia Nordic

Solör Bioenergy Group announced that it has successfully acquired the District Heating Business in Sweden and Norway from Veolia Nordic. The transaction enters into force as of today.

The acquisition of Veolia Nordic ́s Utility Solutions business includes the energy production and energy O&M business in several locations in Sweden and Norway. Moreover, Solör will enter O&M operations within municipal water and wastewater treatment. These combined activities will complete Solör ́s offering to its customers.

– “With this acquisition, we continue to execute our defined growth strategy within environmental friendly and sustainable infrastructure in the Nordics”, says Martinus Brandal, Chairman & CEO of Solör Bioenergy Group.
– “The acquisition will further strengthen Solör Bioenergy’s position as one of the leading providers of district heating and infrastructure services in Sweden” – says Brandal.

The energy deliveries in the acquired business amount to 180 GWh annually.

– After combining our operations, we believe that Solör can further strengthen its relationship with municipal and industrial customers, meet increased demand for combined infrastructure services among customers and continue to assist municipalities in maintaining and improving their infrastructure asset base, says Anders Pettersson, Managing Director and COO Solör Bioenergy Group.

For further information, contact:
Florian Raitner, CFO, Solör Bioenergy Group, +41 786 79 8844
Anders Pettersson, Managing Director & COO Solör Bioenergy Group, +46 70 491 5595

Solör Bioenergy Group
Solör Bioenergy Group, is a leading player in renewable energy based on wood fuels with over 200,000 users every day. The company is located at 182 sites, primarily in Sweden and Norway, where they produce and distribute district heating, steam and electricity to homes, companies, public enterprises and industries. In total, Solör is active in 82 municipalities in Sweden. The business also includes energy recovery of impregnated wood and production of biofuel. By making use of the forest’s resources, Solör wants to make way for a sustainable society with reduced carbon dioxide emissions.

Solör Bioenergy Group have entered into an agreement with Strängnäs municipality for a potential acquisition of 80% of the shares in the municipal district heating business

Solör Bioenergy Group announced today that it has been selected as preferred buyer of 80% of the shares in Strängnäs district heating business, with intention to name the new company Solör Bioenergi Strängnäs AB. The transaction is subject to approval by Strängnäs city council. The purchase price amounts to SEK 1.2 bn for 80% of the shares.

– Strängnäs District Heating will be a central part in Solör Bioenergy Group ́s development in the Mälardalen region, says Martinus Brandal, Chairman & CEO of Solör Bioenergy Group. We are highly committed to support the city of Strängnäs ́ growth ambitions and further development of sustainability within the renewable energy market. The municipalities’ goal matches perfectly with Solör Bioenergy Group ́s strategy”, says Brandal.

The production of district heating in Strängnäs amounts to approx. 200 GWh energy annually, which includes district heating, steam and electricity.

For further information, contact:
Anders Pettersson, Managing Director & COO Solör Bioenergy Group, +46 70 491 5595 Florian Raitner, CFO, Solör Bioenergy Group, +41 786 79 8844

Solör Bioenergy Group
Solör Bioenergy Group, is a leading player in renewable energy based on wood fuels with over 218,000 users every day. The company is located at 165 sites, primarily in Sweden and Norway, where they produce and distribute district heating, steam and electricity to homes, companies, public enterprises and industries. The business also includes energy recovery of impregnated wood and production of biofuel. By making use of the forest’s resources, Solör wants to make way for a sustainable society with reduced carbon dioxide emissions.

Nordic Infrastructure AG completes its EUR 200m Green Financing

Solör Bioenergy Group’s main shareholder Nordic Infrastructure AG (NIAG) successfully completed a EUR 200m Green Financing.

NIAG announced today that it has completed a EUR 200m Green Financing under the established Green Finance Framework.

“With this new financing, we have attracted global long-term investors enabling us to accelerate the growth strategy in Solör Bioenergy Group together with our co-shareholders,” says Martinus Brandal, CEO of NIAG. “Together with DNB Markets, we have attracted two of the biggest long-term debt investors in the world as our future partners,” says Brandal.

The new funds will be used to refinance NIAG’s existing debt facility as well as investing in the future growth of Solör Bioenergy Group and ensuring liquidity for the ordinary course of business of NIAG.

DNB Markets acted as Sole Financial Advisor and Sole Sustainable Finance Advisor in the transaction.

For more information, contact:
Martinus Brandal
CEO, Nordic Infrastructure AG
+47 916 30 060
martinus.brandal@solorbioenergi.com

Solör Bioenergy Group
Solör Bioenergy Group is a leading player in renewable energy based on wood fuels with over 200,000 users every day. The company is located at 165 sites, primarily in Sweden and Norway, where they produce and distribute district heating, steam and electricity to homes, companies, public enterprises and industries. The business also includes energy recovery of impregnated wood and production of biofuel. By making use of the forest’s resources, Solör wants to make way for a sustainable society with reduced carbon dioxide emissions. The head office is located in Stockholm, Sweden. Read more about Solör Bioenergy Group at www.solorbioenergi.com.

Nordic Infrastructure AG
NIAG is an industrial holding company domiciled in Switzerland, owned by the founders of Solör Bioenergy Group. NIAG is the main controlling shareholder in Solör Bioenergy Group, and its strategy is to be a long-term active and driving shareholder within renewable energy in Sweden and Norway. We strive to improve the impact on a better sustainable society.

Polhem Infra and Nordic Infrastructure acquire additional stake in Solör Bioenergy Group

Solör Bioenergy Group ́s existing shareholders, the Infrastructure investor Polhem Infra and the majority shareholder Nordic Infrastructure, increase their shareholding by acquiring all shares from YRC Worldwide Inc.

Solör Bioenergy Group announced today that Polhem Infra, wholly owned by the Swedish State Pension Funds AP1, AP3 and AP4 and Nordic Infrastructure, the original Solör Bioenergy Group founders holding company, have acquired 3.66% of the shares in Solör Bioenergy Group from the existing shareholder YRC Worldwide inc. 90% of the shareholding are acquired by Polhem Infra and 10% of YRC ́s shares are acquired by Nordic Infrastructure.

“Solör Bioenergy Group is a leading energy company for wood-based district heating with focus on the highest ESG standards. Moreover, we are executing a rapid growth strategy and will continue to be ambitious and action oriented while we continue to serve as an active and responsible partner to our clients,” says Martinus Brandal, Chairman & CEO of Solör Bioenergy. “Therefore, Nordic Infrastructure is taking this opportunity to increase it ́s shareholding in this growing company,” adds Brandal.

The investment in Solör Bioenergy Group was the first for Polhem Infra after its foundation 2019. “The Group has a proven track record as an industry consolidator with several successful transactions since Polhem Infra ́s initial investment. Therefore, Polhem Infra took this opportunity to acquire additional shares, as we view Solör as an important and long – term investment Polhem Infra will continue to focus on further enhancing the company’s position as a sustainable and responsible provider of district heating to its customers and society”, says Mikael Lundin, CEO of Polhem Infra.

The parties have agreed not to disclose the purchase price.

For more information, contact:
Martinus Brandal
Chairman & CEO, Solör Bioenergy Group
+47 916 30 060
martinus.brandal@solorbioenergi.com

Mikael Lundin
CEO, Polhem Infra
+46 70 278 05 84
mikael.lundin@polheminfra.se

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