CapMan, a private equity firm, and SkartaNYAB, a Finland-based company engaged in energy, infrastructure and industrial construction, agreed to acquire a majority stake in Skarta Energy, a solar developer, for $23m. “We are very excited about this first investment of CapMan Infra’s second infrastructure fund. Skarta Energy is well positioned in its own right to drive the necessary green transition and increase the security of electricity supply within our Nordic home markets. Currently, solar energy accounts for only half a percent of all electricity produced in Finland, a figure which is expected to increase significantly as Finland is targeting to become fossil fuel free by 2035. This has led to strong corporate and consumer demand and support for green electricity. We are very excited to partner with SkartaNYAB to develop the nascent Finnish solar market and build Skarta Energy into a leading independent power producer together,” Harri Halonen, CapMan Partner.