Orivesi sells 50% stake in Oriveden Aluelämpö to Loimua for €5 million

Orivesi's city board decided on Monday to sell the municipality's 50% stake in district heating company Oriveden Aluelämpö to Loimua for €5 million, with the final price to be adjusted for net debt and working capital, YLE reports.

The sale was approved unanimously, and the board authorized city manager Juha Kuusisto to sign the purchase agreement. The adjustment could increase the sum by about €300,000–€400,000. The city council had given principle approval on May 6.

Under the agreement, Loimua guarantees customer prices in the Orivesi area for five years, and Orivesi will remain a Loimua district heating customer for at least that period. Orivesi says it received several offers over the years and considers the agreed price to match current market levels.

The municipality plans to use the proceeds for basic services, infrastructure investments and to manage debt, citing needs such as the Rovastinkangas school expansion and a new multipurpose hall. Officials also pointed to Oriveden Aluelämpö's substantial future investment requirements: new environmental standards and the phase-out of peat will demand updated technology. The company has annual turnover of about €2.1 million and has been jointly owned by Orivesi and Loimua; although Loimua's shareholders are foreign investors, the company's operational base, workforce and tax payments are in Finland.