EY-Parthenon advised NIAG in its joint acquisition of Statkraft Varme

On 30 September 2025, it was announced that Nordic Infrastructure AG (NIAG) has acquired Statkraft Varme’s bioenergy business. EY-Parthenon acted as buy-side M&A advisor to NIAG in the acquisition.

The transaction perimeter includes a total of 11 biomass-fueled sites, of which 7 are located in Norway and 4 in Sweden. The combined annual volume sold of the acquired sites is around 450 GWh.

Statkraft Varme was acquired in a consortium with the investment company Patrizia SE, which acquired Statkraft Varme’s waste business. The total consideration for Statkraft Varme was NOK 3.6 billion.

NIAG is an industrial holding company owned by the founders of Solør Bioenergi and is the majority shareholder in Solør Bioenergi. Its strategy is to be a long-term active and driving shareholder within renewable energy in Sweden and Norway.

EY-Parthenon congratulates all parties involved on a successful transaction.

The transaction is subject to final approvals from the Norwegian Competition Authority.

Below you can find a selection of EY's recent deal alerts and you can also find a more extensive list on our Transactions and Corporate Finance by EY-Parthenon page.