Adven expands its operations in Latvia and acquires district heating assets and operations from Wesemann in the Sigulda region
Adven and Wesemann have agreed on a business transaction where Adven acquires the district heating assets and operations from Wesemann in the Sigulda region in Latvia. Until now, Adven has provided district heating services in Cēsis and Valmiera municipalities in the country.
Adven is the leading provider of energy and water services across the Nordic and the Baltic countries and provides district heating in Sweden, Finland, Estonia, and Latvia for thousands of companies and private customers as well as complex energy services for industries and real estate.
Adven entered the Latvian market in Cēsis and Valmiera three years ago with the focus of developing more sustainable district heating services in the area. During this time the share of renewable energy resources has grown from 50% in 2018 to 86% in 2021.
“In order to further optimize costs and ensure reliable heating supply in the city, it is necessary to continuously develop the district heating services. Investments now planned with Adven will cover for instance the modernization of the boiler house. When completed, the majority of the heating will be produced by utilizing renewable energy sources, for instance, woodchips, with the benefits of improved sustainability, steady prices, and lower taxes when compared to other fuels”, says Jelena Zarandija, Executive Director of Sigulda Municipality.
“We are very satisfied with what we have achieved during the past 17 years. Over that time we have continuously developed the Sigulda district heating services, steadily grown the number of new connections, and most importantly provided a safe and uninterrupted heat supply. A new stage of development is now ahead, and Adven will contribute to the further development of the district heating services. This allows Wesemann to focus on our core business as a construction company,” says Ivars Paurs, member of the Wesemann board.
“We are really thankful for the trust of Sigulda municipality in our company. Our extensive experience, both locally and internationally, allows us to provide sustainable district heating solutions based primarily on local and renewable energy sources. When developing the energy service, we always look for the most suitable technologies with a high focus on the specific needs of the project. We aim for continuous growth, and we are constantly looking for new development opportunities in Latvia”, Māris Kānītis, member of the board of Adven Latvia, points out.
Māris Kānītis, member of the board of Adven Latvia, email@example.com, +371 2202 9084
Jonas Sjölander, SVP Corporate Finance and M&A, Jonas.Sjolander@varmevarden.se, +46 70 339 86 01