PATRIZIA has completed the merger of SAREN Energy with Kvitebjørn Varme, a district heating operator in Tromsø, Norway.
SAREN Energy is owned by PATRIZIA investors, including PATRIZIA European Infrastructure Fund II (EIF II). SAREN Energy delivers low-carbon energy by diverting waste away from landfills while providing a local solution for the treatment of waste. It is now one of the largest district heating operators in Norway. It will deliver up to 525 gigawatt hours of energy per year.
The merged entity now consists of three energy-from-waste (EfW) facilities and a district heating network, and will sell heat, steam and electricity in both southern and northern Norway. The assets are strategically positioned and include the sole long-term district heating concession holder in Tromsø, above the Arctic Circle, as well as two energy recovery plants in Norway’s southeast region. This will provide industrial steam, heat and power in major industrial and logistic hub
