Adven acquired energy company Kaskisten Energia in Finland

As part of its financial balancing efforts, the City of Kaskinen investigated various alternatives for district heating production. The city initiated discussions with Adven, and after negotiations, the Kaskinen City Council decided in December 2024 to sell its district heating company to Adven.

Mayor of Kaskinen, Markku Lumio, is pleased with the outcome of the transaction.
“Kaskisten Energia Oy needs broader shoulders to ensure district heating production for the residents and businesses of Kaskinen. This transaction secures the expertise and financial resources needed for future investments,” Lumio says.

Adven currently provides district heating in more than 20 locations across Finland. In addition to offering energy services to industries and large properties, district heating is one of the company’s core businesses. Kaskisten Energia will become an important part of Adven’s district heating services.

“We are pleased that the City of Kaskinen has chosen Adven to develop and strengthen the district heating supply in the area. We bring with us strong expertise and experience in district heating production, which we have accumulated over the years in multiple locations. Our goal is to actively develop district heating production,” says Jaakko Siirtola from Adven’s mergers and acquisitions team.

As the first improvement measure, the Kaskinen district heating plant will be integrated into Adven’s 24/7 operational center and remote-control system to ensure the plant’s reliability and operational security. The development of district heating also creates opportunities for collaboration with local industries, enabling the efficient utilization of industrial waste heat within the district heating network.

“We work closely with the city and our partners to ensure reliable and efficient heat production in Kaskinen. With our extensive experience in similar facilities, we can contribute to plant operations from day one. At the same time, we are committed to developing our operations sustainably over the long term,” says Roope Kasvi, Production Manager at Adven.

The change of ownership will not result in any changes to the contracts of Kaskinen Energia’s district heating customers. Kaskisten Energia’s customers will gain access to Adven’s digital services.

More info on:
Jaakko Siirtola, Adven M&A, tel. +358 44 561 5789
Markku Lumio, Mayor of Kaskinen, tel. +358 44 712 3060

Adven

Adven is a dynamic energy group whose goal is to promote the energy transition by developing sustainable and competitive solutions in cooperation with customers, municipalities and suppliers. Our 600 employees provide households and businesses with district heating and geothermal heating, as well as steam production, heating, cooling and infrastructure services that promote resource efficiency for industry. We have over 50 years of long and solid experience in the industry. We are responsible for the operation of more than 350 plants in Europe, and our total energy production is 5.6 TWh. Our net sales are EUR 409 million and our balance sheet total is EUR 1437 million. Together towards future opportunities, adven.com.