Enersense and Helen agree on strategic cooperation aiming at carbon neutrality in operation and maintenance services

Enersense International Plc
Insider information 31 August 2022 at 1.00 p.m.

Enersense International Plc, a provider of zero-emission energy solutions, and Helen Oy, an energy company, have agreed on extensive strategic cooperation regarding operation and maintenance tasks for plants and networks, following competitive tendering in accordance with the Finnish Act on public contracts and concessions of entities operating in the water, energy, transport and postal services sectors.

Helen will purchase operation and maintenance services from Enersense IN Oy, which operates in the business area of Smart Industry, for the needs of four power plants, fifteen heating plants, six cooling and heat pump plants, more than 1,500 kilometres of district heating and cooling networks and around 60 kilometres of energy tunnels among other things in the Helsinki metropolitan area.

The duration of the agreement is at least four years, after which it is possible to continue the cooperation with two two-year options. The maximum value of the procurement during the agreement period with the options is EUR 200 million. The cooperation agreement has no impact on Enersense's 2022 guidance, but it reinforces the achievement of long-term financial targets.

“The strategic goal of both Enersense and Helen is to play a key role in the green transition, and this agreement enables us to contribute to Helen's vision of achieving carbon neutrality by 2030. Security of supply is particularly important in the current global situation, and we have a great deal to offer in this respect as an expert in critical infrastructure,” says Jussi Holopainen, President and CEO of Enersense International Plc.

In connection with the service agreement, it has also been agreed that at most 260 operation and maintenance employees will transfer from Helen to Enersense as existing employees through a business transfer.

“This extensive cooperation agreement will provide us with more highly competent and skilled employees, which will further strengthen and expand our expertise and service offering. We will also have access to ready-for-use service centre sites that we can develop together with the customer in a rapidly changing operating environment. We have broad and varied experience in operation and maintenance services for sites of various sizes that we have been able to develop consistently with the customer to be more sustainable, better and more efficient. Based on this experience, we can also offer Helen a stable and reliable partnership,” says Jaakko Leivo, Executive Vice President, Smart Industry at Enersense International Plc.

“Enersense's objectives and strategy greatly support Helen's journey in the energy transition and our strategy to achieve our carbon neutrality goals. Reliably and flexibly acquired operating and maintenance tasks services help us to prepare for future changes in our operating environment that require professionalism, continuity and flexibility,” says Timo Aaltonen, Director, Energy Platform and Production Solutions, Helen Oy.

Enersense has provided the industrial sector with operation and maintenance services for more than 20 years. Enersense has extensive operation and maintenance contracts with several major Finnish companies.

“We have strengthened our expertise in operation and maintenance in particular, and winning this agreement is excellent proof of our renewed organisation’s commitment and competence. We are grateful and proud that we can be a key strategic partner for Helen on its journey towards carbon neutrality by 2030. We believe that this partnership will offer us further opportunities to improve the efficiency and flexibility of similar services in other cities and towns in response to the energy transition and decentralised energy production. We are aiming to employ our new expertise and personnel more extensively across Finland,” says Jaakko Leivo.

The agreement is expected to enter into force on 1 November 2022, pending approval from the Finnish Competition and Consumer Authority.