Caruna

Caruna

Caruna Oy is Finland's largest electricity distribution system operator, with its operations extending across the South, Southwest, and West regions, as well as the city of Joensuu and its surroundings. Caruna is integral to Finland's energy infrastructure, representing 20% of the nation's electricity distribution. Its network spans 87,300km and serves a substantial customer base of 700,000.
 

Under Igneo’s ownership, Caruna became distinguished by its industry-leading annual investment programme, which allocates up to €300 million to enhance the weatherproofing of its network and increase its resilience, exceeding the Finnish government's weatherproofing target of 75% for 2023. This ambitious investment programme has seen Caruna inject €1.4 billion over the past six years into its network, representing a 40% increase compared to the management plan set out in 2014. Caruna has accelerated its investment in the network to further improve the security of supply and the quality of service it provides to customers.
 

Under our stewardship, Caruna successfully restructured its procurement strategy, leading to a 5% reduction in operational expenditure per annum. Caruna's commitment to safety and operational excellence is reflected in the significant improvements across all key performance indicators. The company also optimised its capital structure, raising an additional €1.1 billion in debt, which has been strategically implemented to facilitate rapid investment in network expansion. With Igneo’s support, Caruna has established itself as a vital component of Finland’s energy infrastructure.