Adven secures EUR 675m in refinancing
Finland-headed Advem Group, a leading provider of energy and water solutions in the Nordic and Baltic countries, has announced that it has renewed its financing platform by raising EUR 675 million through a mix of bank and private placement loans and establishing an investment grade (BBB) rating for the platform.
According to a statement, the refinancing was closed in early January 2025 and provides the company with a solid foundation for growth in the coming years.
Adven has acted as a trusted partner for more than 50 years to industrial firms and property owners of all types and sizes as well as the public sector in their energy projects across Northern Europe. I am delighted by the strong interest within the capital markets towards our company and the impactful work we are doing and thankful for the trust the investors have placed in us, said Toni Tamminen, CFO at Adven.
The group provides households and businesses with district heating, and cooling, and industries with steam, heating, cooling, and infrastructure services.
A strong and predictable financial position in the capital-intensive energy sector provides us with a solid foundation for sustainable growth – driving expansion in our District Heating, Industrial Energy Solutions, and Geoenergy businesses. Through our Energy as a Service model, we invest in, own, develop, and operate our clients’ energy production facilities under long-term partnerships and our financial platform serves as a powerful catalyst for accelerating these investments in the green energy transition without delay. What a fantastic way to kick off 2025! said Jonas Sjölander, CEO of Adven.
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