Infracapital and AMP Capital have agreed to sell their combined ownership interest in Adven, a provider of clean energy solutions across the Nordics and Baltics. The buyers were institutional investors advised by J.P. Morgan Asset Management.
Infracapital and AMP Capital acquired Adven in January 2016 from EQT Infrastructure with the goal of investing in essential infrastructure that supports long-term economic growth and delivers a positive societal impact, according to a statement from the firms. AMP Capital and Infracapital each own a 50 percent stake in Adven.
During the ownership period, the company acquired E.ON's district heating business in Sweden, becoming a major provider of clean energy in the region. It also entered the Latvian and Norwegian energy infrastructure markets and has reduced its carbon footprint per sold megawatt hour by 20 percent since 2016.
“Adven’s vision is to become the best in the world in providing sustainable energy as a serv