Funds managed by Igneo Infrastructure Partners have entered into agreements to acquire a 50% ownership stake in Larus Holding Limited, the 100% owner of energy infrastructure solutions provider Höegh Evi, from funds managed by Morgan Stanley Infrastructure Partners (MSIP).
Aequitas Limited, the owner of the other 50% stake, will retain its shareholding, Höegh Evi revealed, adding that the transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.
This stake purchase follows Höegh Evi’s rebranding. Formerly known as Höegh LNG, the company changed its name to reflect the recent expansion of its focus beyond liquified natural gas (LNG) import terminals. As disclosed in September 2024, Höegh Evi aims to accelerate the energy transition with floating infrastructure for ammonia and hydrogen, as well as carbon transport and storage (CCS).
The company has been active in the LNG sector for more than 50 years, working with floating storage and regasification units (FSRUs) and LNG carriers. Now, it is looking to develop “innovative” marine infrastructure, including floating ammonia and hydrogen import terminals, ammonia cracking technology and CCS.
One of its latest clean energy endeavours is the collaboration with the French port of Port-La Nouvelle. The two parties signed a memorandum of understanding (MoU) to develop a floating terminal for hydrogen imports. The partners believe that the new terminal will accelerate the shift to clean energy in Europe by becoming “a vital hub” for importing large volumes of hydrogen.
Commenting on the changes in ownership, Morten W. Høegh, Chairman of Höegh Evi, said: “Höegh Evi and Aequitas deeply value the close collaboration we have had with MSIP through an extraordinary period where we strengthened our role as a market leader in LNG infrastructure and key provider of energy security in Europe. As we expand our focus to include clean energy solutions, Igneo offers deep expertise and resources to support innovation and further growth, aligning with Höegh Evi’s position as global leader in floating infrastructure for energy security and the transition.”
Niall Mills, Managing Partner and Global Head of Igneo Infrastructure Partners, stated: “Höegh Evi is a global leader in delivering floating energy infrastructure to countries advancing energy security and a pioneer in the energy transition. As long-term, responsible investors, we are fully aligned with Höegh Evi’s strategy to continue as a trusted provider of FSRUs and LNG infrastructure, while expanding its focus to include infrastructure for ammonia, hydrogen and carbon molecules.”
Alberto Donzelli, Managing Director and Co-Head of Europe at Morgan Stanley Infrastructure Partners, remarked: “MSIP identified Höegh Evi early as a trusted owner and operator of floating storage and regasification import terminals with strong growth potential. During our ownership, the company significantly strengthened its commercial and strategic standing. We are grateful for having had the opportunity to support Höegh Evi during this period.”