We advise Geonova, a leading provider of property-specific heating and cooling solutions, in its acquisition of One1’s EaaS business. The sites included in the transaction have been implemented with geothermal, pellet, wood chip or solar panel systems under the EaaS model with 10-20 year contracts.
The transaction supports Geonova’s growth strategy and is an important step in the expansion of its EaaS activities in the Finnish market. The transaction is financed by funds managed by CBRE Investment Management, Geonova’s new majority owner.
The transaction is subject to customary conditions such as counterparty approvals and is expected to close by the end of 2024.