Loiste

What Loiste does

Loiste is a privately held Finnish regional energy group headquartered in Kajaani, operating three core business lines: Kajave Oy, which runs the regulated electricity distribution network across Kainuu and parts of North Ostrobothnia covering approximately 13,800 km of grid, 58,700+ connection locations, and 7.2% of Finland's territory; Loiste Lämpö Oy (including Otanmäen Lämpö Oy), which produces and distributes district heating in Kajaani, Otanmäki, and Vuolijoki across a 132 km network serving 1,790 customer premises and approximately 70% of Kajaani's population; and Loiste Energia Oy, which handles electricity production including hydroelectric assets. A fourth subsidiary, Loiste Liittymisjohdot Oy (established December 2023), extends the group beyond its regulated territory by designing, financing, and implementing neutral high-voltage connection lines for large renewable energy projects.

The group's technology stack centers on heat pump and electric boiler systems for district heating production, including a new scalable Renforsin Ranta facility that captures waste heat from local data centers (Borealis Data Center operational May 2026; CSC LUMI AI Factory from end-2027) and integrates it into the Kajaani district heating network. Kajave operates Finland's first and only alliance model (allianssimalli) for electricity network construction and maintenance, partnering with Destia, Maanrakennus Ohtamaa, and Rejlers on a €45M West Alliance contract (2025-2029). The group is owned by the City of Kajaani (50.1%), the City of Sotkamo (16%), and Kanerva Energia Oy (33.9%), the Nordic infrastructure investment vehicle of Infranode and Vauban.

Revenue is generated primarily through regulated electricity distribution tariffs (subscription/recurring), district heating energy and basic fees (recurring, with a 5.2% increase effective 1 November 2025), and emerging connection infrastructure development fees for large energy projects. Reported group revenue was €121.7M in 2022. Customers are acquired through direct utility service channels (customer service phone and in-person point at Ahontie 1, Kajaani), online self-service portals (Oma Energia, Oma Lämpö), and direct sales for new connections and renewable project developers. Customer segments span residential and commercial customers in the Kainuu region, construction companies requiring new connections, and a growing enterprise segment of international renewable energy developers served by Loiste Liittymisjohdot Oy.

Name

Loiste

Legal name

Loiste-yhtiöt

Website

https://loiste.fi

Company type

Private

Founded year

1911

Operating status

Operating

Headcount range

11–50 employees

Short description

Loiste is a Finnish regional energy group based in Kajaani operating regulated electricity distribution (Kajave), district heating (Loiste Lämpö), electricity production, and — since 2023 — national-scale renewable energy grid connection services for developers like BayWa r.e.

Ownership category

akta.pro rank

Product category

Regulated Energy Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Steam and Air-Conditioning Supply (221330), Hydroelectric Power Generation (221111)

SIC

Electric, Gas & Sanitary Services (4900), Electric & Other Services Combined (4931)

akta.pro primary industry

Distribution Network O&M (MV/LV Lines, Switchgear, Transformers) (EUAEAGAE)

akta.pro secondary industries

Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB), Protection, Metering & Grid Compliance Systems (Relays, Revenue Metering, PQ) (EUAEADAE)

Keywords

• Electricity distribution services
• District heating supply
• Renewable energy connections
• Energy grid operations
• Heat pump infrastructure

Headquarters

HQ city

Kajaani

HQ country

Finland

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Distribution (Kajave Oy): Kajave Oy operates as a regulated electricity distribution company under Finland's Electricity Market Act. Revenue comes from electricity transmission fees charged to all customers connected to the grid in the Kajave service area. The company earns distribution charges for transporting electricity from suppliers to end consumers. This is the core regulated revenue stream.
2. District Heating Production and Distribution (Loiste Lämpö Oy): Loiste Lämpö Oy produces and distributes district heating in Kajaani, including via Otanmäen Lämpö Oy in Otanmäki and Vuolijoki. Revenue is generated through heating fees — both energy fees and basic subscription fees charged to connected properties. The company is transitioning production to renewable and waste heat sources.
3. Electricity Production (Loiste Energia Oy): Loiste Energia Oy is responsible for electricity production activities within the group. The company owns or operates hydroelectric power plants contributing to the energy supply.
4. Grid Connection Solutions (Loiste Liittymisjohdot Oy): Loiste Liittymisjohdot Oy designs, finances, and implements high-voltage connection lines for large energy production projects (wind farms, solar farms). The company was established in December 2023. First customer contract: BayWa r.e. wind farm in Vaala (over €3M, construction 2026). Revenue from connection infrastructure development fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Loiste is a Finnish regional energy group that delivers regulated electricity distribution (via Kajave Oy), district heating production and distribution (via Loiste Lämpö Oy and Otanmäen Lämpö Oy), electricity production (via Loiste Energia Oy), and high-voltage grid connection solutions for renewable energy projects (via Loiste Liittymisjohdot Oy). Operations are concentrated in the Kainuu region and parts of North Ostrobothnia, with the group transitioning toward carbon-neutral district heating using heat pumps and waste heat recovered from data centers.

Product overview

Loiste is a Finnish energy company group consisting of multiple business units serving the Kainuu region. The group operates three core business areas: electricity distribution through Kajave Oy, district heating through Loiste Lämpö Oy (including Otanmäen Lämpö Oy), and energy production through Loiste Energia Oy. Additionally, Loiste Liittymisjohdot Oy provides connection solutions for large energy projects. The group serves customers through customer portals (Oma Energia and Oma Lämpö) and a physical customer service point in Kajaani. The company is transitioning toward low-emission district heating production using heat pump technology and waste heat recovery from data centers.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Distribution Service (Kajave Oy) Regulated electricity transmission, network construction, operation and maintenance service provided by Kajave Oy across Kainuu and North Ostrobothnia, serving over 58,700 locations and approximately 75,000 people under Finland's Electricity Market Act. Includes new connection contracts, temporary connections for construction sites and events, ownership transfer handling, and 24/7 fault response with SCADA-based monitoring.
• District Heating Supply (Loiste Lämpö Oy) Production and distribution of district heating via 132 km of pipe network across Kajaani, Otanmäki, and Vuolijoki, serving 1,790 customer premises with annual heat production of 314 GWh and 99.93% supply reliability in 2024. Includes new connection contracts (recommended 2–4 months in advance), subscription power adjustments, and online consumption monitoring via Oma Lämpö portal. Approximately 70% of Kajaani residents live in district-heated buildings.
• Electricity Production (Loiste Energia Oy)

Quantifiable outcome

• District heating supply reliability: 99.93% (2024)
• +5 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, minor and major.

• CaverioncoreImplementation/ SI/ Consulting Partner · 5 May 2026Loiste Group selected Caverion as the maintenance partner for its heat production plants in Kajaani — electric boiler, dust pellet, and heat pump facilities. Caverion will handle maintenance and annual overhaul planning and execution. Caverion has established an on-call ring in Kajaani ensuring 24/7 availability year-round. Caverion has approximately 30 employees in Kajaani and hired 10 new staff specifically for this partnership.
• CSC — Tieteen tietotekniikan keskuscoreStrategic or Co-development Partner · 1 April 2026CSC and Loiste Lämpö Oy signed an agreement for waste heat recovery from the CSC LUMI AI Factory data center at Renforsin Ranta in Kajaani. When the facility begins operations at the end of 2027, the heat generated by the supercomputer will be directed to Loiste's heat pump plant and into the district heating network. CSC aims to build environmentally friendly and energy-efficient data centers, and the LUMI AI Factory is designed for sustainable operations.
• Kajaanin HakaminorGTM or Marketing Partner · 1 September 2025Loiste and Kajaanin Haka signed a cooperation agreement (autumn 2025 – August 2027) supporting youth talent programs, academy activities, Kainuu Nappulaliiga, and Kajaanin Haka's project activities. Focus on supporting children and youth, promoting sports lifestyle, and strengthening Kainuu's appeal and skilled workforce. Kajaanin Haka is a football club with over 400 registered players across age groups.
• Borealis Data CentercoreStrategic or Co-development Partner · 18 August 2025Borealis Data Center and Loiste Lämpö Oy signed an agreement for waste heat recovery from the Borealis Data Center in Kajaani. The system captures heat from the data center's computing operations via heat pumps at Loiste's nearby heat pump plant and redirects it into the Kajaani district heating network. The system was expected to be operational by 1 May 2026. Borealis is a critical infrastructure provider committed to sustainable development and regional support.
• BayWa r.e.majorStrategic or Co-development Partner · 1 May 2025BayWa r.e. (international renewable energy operator) signed Loiste Liittymisjohdot Oy's first customer contract for a wind farm connection in Vaala. BayWa r.e. evaluated Loiste's solution as technically viable and cost-effective from an international perspective. Construction starts 2026, project value over €3 million. BayWa r.e. represents an important first validation of the neutral connection line model.
• Destia, Maanrakennus Ohtamaa, and Rejlers ConsortiumcoreImplementation/ SI/ Consulting Partner · 1 January 2025The consortium of Destia (electrical work, main contractor), Maanrakennus Ohtamaa (earthworks), and Rejlers (design) won Kajave's West Alliance (länsi-allianssi) competitive tender for electricity distribution network construction, maintenance, and fault management. The alliance covers 4 years (2025–2029) with a 3-year option (2030–2032), worth approximately €45 million. Approximately 350 km of medium-voltage and 200 km of low-voltage lines to be rebuilt underground. This is a rare alliance model in Finland's electricity network sector.
• Finnish Government / TEM (Ministry of Employment and the Economy)majorStrategic or Co-development Partner · 1 January 2025Loiste joined the national energy efficiency agreement (Energiatehokkuussopimus) for 2026–2035, committing to energy efficiency improvements and emission reductions. This is part of Finland's climate strategy supporting the 2035 carbon neutrality target. The agreement is a key component of Loiste's sustainability strategy.
• SwecomajorImplementation/ SI/ Consulting PartnerSweco was responsible for basic design (perussuunnittelu) of the waste heat recovery project and serves as the EPCM partner during implementation, handling project management, design, procurement, construction management, site supervision, commissioning, and the role of main implementing party (päätoteuttaja). Sweco's industrial and energy sector leader commented that the solution supports the electrification of district heating and reduces dependence on traditional heat sources.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Fortum Oyj: Major Nordic energy group with significant generation, distribution, and district heating operations in Finland and the Nordics. Overlaps with Loiste across electricity distribution and heat, but operates at much larger scale and broader geography; former parent of parts of Loiste's history (E.ON divestment lineage).

Direct peers

• Helen Oy: Helsinki-based Finnish municipal energy utility operating district heating, electricity production, and electricity distribution. Comparable to Loiste as a regulated multi-utility with both heat and power operations; Helen is much larger and urban, while Loiste operates in a smaller, rural, climate-exposed territory.
• Kuopion Energia Oy: Kuopio-based Finnish regional energy utility operating electricity distribution, district heating, and electricity production. Closely comparable mid-sized Finnish municipal utility with a similar multi-segment business model.
• Stockholm Exergi AB: Swedish municipal district heating and cooling utility owned by the City of Stockholm. Highly comparable for Loiste's district heating and waste heat recovery strategy — Stockholm Exergi is itself developing data center heat recovery and bio-CCUS, mirroring Loiste's heat-pump and waste-heat-from-data-centers approach.
• Elenia Oy: Finland's second-largest electricity distribution system operator, focused exclusively on regulated distribution. Comparable to Kajave's core regulated distribution business and operating model, though Elenia serves a larger and more southern footprint.
• Turku Energia Oy: Turku-based Finnish municipal energy company providing district heating, electricity distribution, and electricity sales. Similar vertically integrated municipal utility structure to Loiste, with comparable business mix and customer base profile.
• Tampereen Energia Oy: Tampere-based Finnish municipal energy utility operating district heating and electricity generation/distribution. Comparable multi-utility business model and ownership structure (municipally owned), though operating in a larger urban market.
• Vantaan Energia Oy: Vantaa-based Finnish municipal energy utility operating district heating and electricity distribution/generation. Comparable multi-utility model and Finnish municipal ownership, with overlapping focus on decarbonizing heat production.
• Caruna Oy: Largest electricity distribution company in Finland by network length, operating regulated distribution networks. Closest direct peer to Kajave on the regulated distribution side, with similar customer-facing operational profile (connections, fault response, SCADA monitoring).
• Oulun Energia Oy: Oulu-based municipal energy utility serving northern Finland with district heating, electricity distribution, and electricity production. The closest geographic and climatic peer to Loiste, with overlapping exposure to cold-weather operations and similar customer / network profile in northern Finland.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/loiste_energia
• LinkedInlinkedin.com/company/loiste-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Loiste